Buy This World-Leading Fintech While It's Down 70%
Technology stocks have suffered a great deal in recent times. With inflation reaching 40-year highs, expected interest rate hikes, and global fear surrounding Russia and Ukraine, investor sentiment has been turned upside down.
Consequently, companies like PayPal (NASDAQ: PYPL), which is highly profitable and cash-flow positive, have been wrongfully treated of late. The fintech juggernaut is down more than 60% over the past year, a staggering decline compared to that of the S&P 500, which has gained 2% in the same time frame.
PayPal released first-quarter 2022 earnings on April 27 that should put to rest some skeptical views of the payment company. When considering PayPal's market positioning and commercial prospects over the long run, investors should feel very comfortable buying the stock at current levels. Short-term headwinds might continue to drag the company's share price down for the foreseeable future, but PayPal should recover nicely in the years ahead.
Source Fool.com
