Shares of (NASDAQ: PYPL) were climbing higher after the company reported strong second-quarter results and raised its full-year guidance. Even with the jump in price, the stock is still down more than 20% over the past year.

Let's look at the payment company's most recent results, long-term prospects, valuation, and whether or not it's too late to buy the stock.

For the second time this year, PayPal increased its full-year guidance following a strong earnings report.

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Source Fool.com