PayPal (PYPL) recently released earnings and guidance late last week. The results were excellent and even the guidance showed amazing growth for the upcoming quarter and year ahead. The CEO and CFO mentioned that on their conference call that the guidance shows a strengthening business outlook moving forward. PayPal mentioned that Venmo, one of the most popular payment platforms, has grown quite a lot and is now showing revenue instead of just engagement. The company has purchased multiple e-payment platforms to strengthen their business and grow their bottom line.
However, from last friday-tuesday, the PayPal stock price continued to drop with the FANG stocks. From a price last week over $92, it has dropped to almost $82 in the past week. This gives you a nice 10% discount from the current price. If the tech stocks continue to trend down, PayPal will continue to downtrend with them. However, I believe PayPal is a strong candidate for long-term growth and I expect it to grow leaps and bounds in the future.
I believe PayPal (PYPL) is a great buy anything below $80 and I expect it to be a nice long-term hold.