2024-05-07 13:54:37 ET
Summary
- PayPal's earnings were better than expected, but primarily due to a change in reporting methodology.
- The fintech failed to improve its active account numbers, leading to a soft profit outlook for 2024.
- PayPal's competitive valuation justifies a 'Hold' stock classification, but it lacks a clear catalyst for a re-rating.
PayPal Holdings, Inc. ( PYPL ) reported earnings a week ago that were better-than-expected, but primarily because of a change in the fintech’s reporting methodology, in my view....
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PayPal: Great Valuation, But Weak Setup