PayPal Holdings Inc

PYPL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$432.00	Zdhjxp	Nqrjwwvx

PayPal Earnings: Results Are Solid, but 2024 Outlook Disappoints

Brett Horn

Feb 8, 2024

PayPal's fourth-quarter results were solid overall, but the outlook management provided for 2024 suggests the road toward improving growth and profitability will be longer than expected. We expect to reduce our $135 per share fair value estimate by about 20% as we moderate our growth and margin assumptions. That said, we still believe the company's narrow moat and favorable secular tailwinds create an attractive long-term picture, and see the shares as undervalued.

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