's (NASDAQ: PYPL) stock closed at its all-time high of $308.53 on July 23, 2021. At the time, the digital payment provider dazzled the bulls with its robust growth rates and its plans to nearly double its number of active accounts from 377 million in 2020 to 750 million in 2025. It also aimed to more than double its annual free cash flow (FCF) and revenue to $10 billion and $50 billion, respectively, by 2025.

Unfortunately, PayPal's stock price subsequently plunged more than 80% as it abandoned those ambitious goals. In 2023, its active accounts actually declined 2% to 426 million, its annual FCF shrank 18% to $4.2 billion, and its revenue rose a mere 8% to $29.8 billion. CEO Dan Schulman, who led PayPal ever since its spin-off from eBay in 2015, also stepped down as its sales growth cooled off.

Image source: PayPal.

Continue reading

Source Fool.com