PayPal Holdings (NASDAQ: PYPL) is one of the most popular stocks trading on the online brokerage site Robinhood Markets, and for good reason. But the reason might not be what you expect from a company that has been known as a high-flying growth stock since it went public.

The reason is that PayPal is now in value stock territory, trading at its lowest valuation ever. While it has faced its share of challenges in recent years, it looks too good to ignore at its current level. Let's look at why the company is a good long-term buy right now. 

There have been several reasons PayPal, once a fintech darling, has struggled in recent years. It became way overvalued during the post-pandemic tech bubble, with its price-to-earnings (P/E) ratio surging to more than 71 in mid-2021. It crashed hard when the bubble burst, as its stock price plummeted 62% in 2022. But there have been other factors that have contributed to its decline, both internal and external.

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Source Fool.com