PayPal Holdings Inc PYPL is trading higher Monday after reports suggesting the company is exploring the launch of a stock trading feature on its platform.
Douglas C. Lane & Associates' Sarat Sethi owns the stock and would buy more at current levels, he said Monday on CNBC's "Fast Money Halftime Report."
Sethi told CNBC that he considers PayPal a core holding and he buys more of the stock when he brings on new clients.
The total addressable market for PayPal is huge, he said.
Venmo is a "jewel" for the company, and in terms of how PayPal is going to make money with it, it's still largely undiscovered, Sethi said.
Adding in the potential of a stock trading feature makes it seem that PayPal is targeting a younger audience, he noted.
Related Link: Is PayPal Getting Into The Stock Trading Game?
The company has great management, great products and is forward thinking. If PayPal is able to captivate younger customers, "the money will stay there," Sethi said.
PYPL Price Action: PayPal has traded as high as $310.16 and as low as $171.63 over a 52-week period.
The stock was up 4% at $289.46 at the time of publication.
Photo: courtesy of PayPal.
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