文章核心观点 - 公司虽过去几年表现不佳，但长期成功潜力大，若管理层成功，未来几年将为股东释放巨大价值，当前股价低于内在价值，潜力大于风险 [4][9][14] 公司现状 - 过去几年股价表现不佳，持续跑输大盘，2024年是转型年，投资者等待其扭转局面的证据 [4] 投资理由 Braintree增长及其他无品牌解决方案 - 无品牌解决方案业务近期表现出色，上一季度增长26%，主要得益于Braintree，公司通过低价竞争获取市场份额，虽牺牲短期利润率，但有望实现长期增长，目前市场份额低于Stripe等公司，仍有较大增长空间 [5] 利润率扩张可期 - 为获取市场份额，公司低价竞争致利润率下降，待市场份额稳定后提价，利润率有望提升，新CEO重视运营效率，无品牌解决方案将在提升运营效率方面发挥重要作用，如Fastlane产品成功转化客户并缩短结账时间，提价后利润率将改善 [6] 新兴市场带来巨大机遇 - 墨西哥、巴西等拉美国家传统上现金支付占比高，近年来向数字支付转变，为公司提供机会，可扩大活跃用户群体，该地区中小企业是经济支柱，新CEO在该领域经验丰富，政府鼓励数字支付，年轻一代更倾向使用数字支付，未来现金使用将大幅下降 [7] 财务状况良好 - 截至2024年第一季度，公司现金及短期投资约143亿美元，长期债务约90亿美元，季度利息支出8600万美元，短期投资利息收入1.66亿美元，息税前利润可覆盖利息支出13倍，无债务问题，且自2021年以来无杠杆自由现金流持续增长 [8] 估值分析 营收预测 - 过去5年公司营收年均增长约14%，过去3年年均增长约8%，预计未来将维持8%的增速，到2033财年营收将翻倍，作者预测较分析师更保守 [10] 利润率预测 - 因新CEO重视运营效率，公司产品将转向价值导向，未来10年毛利率和息税前利润率有望提高约400个基点，作者预测较分析师保守，模型平均每股收益增长率约11% [10] DCF模型 - 采用公司约9.7%的加权平均资本成本作为折现率，2.5%作为终端增长率，最终内在价值约为每股71美元，较当前股价有一定溢价，作者还额外给予15%的折扣以降低估计误差 [11][12] 风险与挑战 - 若上述因素无法在未来几年提高运营效率，公司股价短期内难以上涨，新CEO改革可能出现失误，浪费资源，导致负面情绪加剧，股价进一步下跌，无品牌产品增长大幅放缓，有品牌产品表现停滞，将使公司难以实现扭转，若产品价值主张不足以吸引客户，股价将继续下跌 [14]

文章核心观点 文章围绕Paypal公司展开，介绍其股价表现、即将公布的财报预期、分析师预测变化、估值情况，还提及所在行业的排名及表现，为投资者提供投资参考 [1][2][3][4] 公司股价表现 - 最近一个交易日收盘价为60.02美元，较前一交易日上涨1.89%，跑赢当日标准普尔500指数0.88%的跌幅 [1] - 过去一个月股价下跌7.14%，表现逊于计算机和科技板块9.48%的涨幅以及标准普尔500指数5.11%的涨幅 [1] 公司财报预期 - 定于2024年7月30日公布财报，预计每股收益0.95美元，较去年同期下降18.1%，预计营收77.8亿美元，较去年同期增长6.73% [1] - 全年Zacks共识预期每股收益4.14美元，营收319.7亿美元，同比分别变化-18.82%和+7.37% [2] 分析师预测变化 - 分析师预测的最新调整反映短期业务模式动态，积极的预测修正体现对公司业务和盈利能力的乐观 [2] - 过去30天每股收益共识预测保持不变，目前Zacks排名为3（持有） [3] 公司估值情况 - 目前远期市盈率为14.24，行业平均为29.49，公司股价较行业有折价 [3] - 目前PEG比率为0.96，互联网软件行业平均为1.67 [3] 行业情况 - 互联网软件行业属于计算机和科技板块，Zacks行业排名为93，处于所有250多个行业的前37% [4] - 研究显示排名前50%的行业表现优于后50%的行业两倍 [4]

文章核心观点 - 近期PayPal股价表现不佳，面临市场不确定性、竞争等挑战，但公司有执行、客户策略等方面的举措，且在加密货币领域有优势，长期有望受益，当前股价有投资机会 [1][5][10] 股价表现 - 年初至今PayPal股价下跌4.1%，而同期标准普尔500指数和Zacks计算机与科技板块回报率分别为17.6%和29.4% [1] - 目前PayPal股价低于50日移动平均线，呈看跌趋势 [1] 面临挑战 - 市场不确定性、高通胀、外汇波动不利和消费者支出疲软影响公司短期前景 [1] - 后疫情时代线上支付需求下降，公司在疫情期间的高增长不再 [1] - 市场竞争激烈，面临来自Block、谷歌、苹果及传统金融科技公司的竞争，过去几个季度活跃账户流失，2024年第一季度同比下降1%，2023年第四季度同比下降2% [3] 发展机遇 客户策略执行 - 针对大型企业，升级核心品牌结账体验，Fast Lane测试阶段参与商家的访客结账转化率实现低两位数提升，计划下半年在美国全面推出；转向无密码认证流程，计划推出重新设计的移动结账体验，有望提高转化率 [6] - 针对中小企业，PayPal Complete Payments平台拓展到34个以上国家，在澳大利亚、德国和美国引入新功能，有望深化与中小企业关系并降低客户流失率 [7] - 针对消费者，奖励计划值得关注，开始测试全面的奖励生命周期营销计划；PayPal借记卡的良好使用推动平台交易活动和单账户平均收入增长 [7] 合作与技术应用 - 与苹果和谷歌合作，将Venmo借记卡与Apple Pay和Google Pay集成，预计未来几个月推出，将推动客户增长 [8] - Tap to Pay在安卓和iPhone上受到客户欢迎 [8] 加密货币业务 - 帮助商家接受加密支付，允许客户直接从PayPal账户买卖和持有加密货币 [9] - Venmo提供Crypto功能，允许用户在应用内买卖和持有加密货币；提供Checkout with Crypto功能，让客户结账时将加密货币无缝转换为法定货币 [9] - 最近在Solana区块链上推出PayPal USD，使其稳定币使用更快捷、成本更低 [9] 财务预期与估值 - Zacks共识预计2024年营收为319.4亿美元，同比增长7.3%；过去30天2024年每股收益共识预期维持在4.14美元不变 [10] - 公司远期12个月市销率为1.85倍，低于Zacks互联网软件行业的2.68倍，显示出投资机会 [10]

Investing in the stock market can be daunting, but finding once-in-a-lifetime stocks can offer considerable rewards. Here, the exploration concentrates on three such stocks with high growth potential. Despite their low stock prices, these companies exhibit impressive fundamentals that make them attractive investments. These companies’ solid top-line growth and expanding transaction volume showcase their market dominance and customer trust. One of them has a Max streaming service rapidly gaining subscribers ...

chameleonseye My Thesis Update After I initiated coverage of PayPal Holdings (NASDAQ:PYPL) stock at the end of January 2024, the stock price continued to remain in its usual price channel that started in mid-last year. So the stock basically went nowhere for the past few weeks while the S&P 500 index (SP500) (SPY) continued to update new all-time highs. Unfortunately for me and my bullish thesis, PayPal didn't react to the catalysts that I had assessed as extremely positive back in January and also in April ...

If you’re reluctant to invest in PayPal (NASDAQ:PYPL), that’s understandable. It’s difficult for PayPal to protect its market share in the crowded and highly competitive fintech space. However, a moderately sized portfolio position in PayPal stock could still offer excellent returns over the long term.My previous analysis of PayPal suggested the share price will easily reach $90. Today, in light of a well-known technology company’s intentions in the payments-processing market, I’m moderating my bullish stan ...

Loading...Loading...RBC Capital analyst Daniel Perlin reiterated PayPal Holdings Inc PYPL with an Outperform and a $84 price target.PayPal has called out fiscal 2024 as a transition year to set the company up for long-term profitable growth, Perlin noted.The combination of fresh leadership, better aligned to drive transaction margin improvement specifically, and management commentary during the quarter gave the analyst incremental conviction of the profitable growth transition.Perlin’s increased conviction ...

InvestorPlace contributor David Moadel predicted in early June that PayPal (NASDAQ:PYPL) stock, because of a combination of factors, should hit $90 in the next 12 months. I said in late March that it was time to buy PayPal stock given it was up 34% from its five-year low in October 2023. However, since then, it’s lost about 10% of its value. It just doesn’t seem to be able to get any momentum going, which makes getting to $90, a 52% gain from current prices, a herculean task. My colleague leans on the compa ...

alexsl PayPal Holdings, Inc. (NASDAQ:PYPL) has been gaining investor attention throughout the first half of 2024, driven by its beaten-down valuation, fresh growth strategies, and several high-profile bets made by famed money managers. While longtime shareholders largely view the stock with disgust following its 80% decline over a 3-year period, others are taking the opportunity to jump in at these depressed levels. The hordes of optimistic PayPal shareholders include not only value investors enamored w ...

Paypal (PYPL) ended the recent trading session at $58.26, demonstrating a -1.8% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.49%.Coming into today, shares of the technology platform and digital payments company had lost 4.57% in the past month. In that same time, the Computer and Technology sector gained 5.94%, while the S&P 500 gained 3.22%.Investors will be eage ...