I think PayPal's recent rally is just the beginning, as the stock remains undervalued given its growth prospects and strategic cost-saving measures. Q2 2024 results exceeded expectations with an 8% revenue increase, 28% adjusted net income growth, and substantial EPS gains, showcasing effective cost control. PayPal's expansion into cryptocurrency for U.S. business customers and innovative payment solutions like "Buy Now Pay Later" drive future growth and user retention.
PayPal's stock is just getting started.
It might have just taken a little time for the wheels on this turnaround to get some traction on the road to recovery.
PayPal CEO Alex Chriss just wrapped up his first year on the job at the payments company, which was in a protracted downturn when he took over. Bolstered by cost cuts and improved margins, the stock jumped 34% in the third quarter, which closed on Monday, its best quarterly performance since 2020.
The latest trading day saw Paypal (PYPL) settling at $78.03, representing a +0.19% change from its previous close.
There aren't many deals to consider for further value in the technology sector. However, one stock is looking to change that narrative by delivering on previous promises.
Turning around an iconic company that has been stumbling is no small task. Sometimes, a turnaround never materializes.
PayPal will bring bitcoin and other virtual coins to "millions" of merchants across the US.
When PayPal CEO Alex Chriss took over a year ago, investors questioned whether the company had a future. Now he says product innovations have helped change the conversation.
The Investment Committee give you their top stocks to watch for the second half.
Does Paypal (PYPL) have what it takes to be a top stock pick for momentum investors? Let's find out.