PYPL
Financial Services
PayPal (PYPL): The Forensic Case That The Market Is Pricing A Wallet As A Wallet — And Ignoring The Cash Machine Behind It
PYPL has de-rated to ~$44 and ~8.4x earnings on a single fear — branded checkout is losing share — while consensus misprices three things the filings refute: a ~$14B transaction-profit base growing 3% in spite of the checkout drag, a Venmo/PSP growth engine compounding double digits, and a ~$6B annual buyback retiring ~10% of the float a year. Forensic case: BUY, $62 in 12 months, $80+ long-term.