PayPal: A breakout stock to watch for 2023 and beyond

PayPal: A breakout stock to watch for 2023 and beyond, Long Tall Investing

PayPal is a leading digital payments company that allows users to send and receive money online. The company has a strong track record of profitability and growth, and it is well-positioned to benefit from the long-term growth of the digital payments market.

Here are some reasons why PayPal is a breakout stock to watch for 2023 and beyond:

  • Strong fundamentals: PayPal has strong fundamentals, with a strong track record of profitability and growth. The company is also well-positioned to benefit from the long-term growth of the digital payments market.
  • Undervalued: PayPal is currently trading at a price-to-earnings ratio below its historical average, which suggests that the stock is undervalued and has the potential to appreciate in the future.
  • Technical breakout: PayPal’s stock price has recently broken out of a downtrend, which is a technical signal that suggests that the stock is likely to continue to trend higher in the future.
  • Increased adoption of digital payments: The COVID-19 pandemic has accelerated the adoption of digital payments, and PayPal is well-positioned to capitalize on this trend.
  • Expansion into new markets: PayPal is expanding into new markets, such as India and China, which will further drive growth.
  • Strong innovation pipeline: PayPal has a strong innovation pipeline, with new products and services in the works that could further fuel growth.

Why buy PayPal stock in 2023?

There are several reasons why investors should consider buying PayPal stock in 2023:

  • PayPal is a leader in the digital payments market. PayPal is one of the leading digital payments companies in the world, with over 446 million active accounts. This gives PayPal a significant competitive advantage.
  • PayPal is well-positioned to benefit from the growth of e-commerce. E-commerce is growing rapidly, and PayPal is a leading payment method for online purchases. This means that PayPal is well-positioned to benefit from the continued growth of e-commerce.
  • PayPal has a strong management team. PayPal is led by a strong management team with a proven track record of success. This gives investors confidence that the company will be able to execute on its growth strategy.

How to invest in PayPal stock

There are two main ways to invest in PayPal stock:

  • Buy shares of PayPal stock on a stock exchange. PayPal is listed on the Nasdaq stock exchange under the ticker symbol PYPL.
  • Invest in a mutual fund or ETF that holds PayPal stock. There are many mutual funds and ETFs that invest in technology stocks, and many of these funds hold PayPal stock.

Conclusion

PayPal is a breakout stock to watch for 2023 and beyond. The company has strong fundamentals, a bright future, and it is trading at a discount to its historical valuation. Investors should consider adding PayPal to their portfolios for the long term. Based on the average of all buy recommendations from analysts, the price target for PayPal (PYPL) is $85.32. This represents a 55.78% increase from the current price of $54.77.