The narrative around (NASDAQ: PYPL) stock has been bearish for a couple of years now. The stock price is off close to 80% from all-time highs set in mid-2021 and was trading under $50 a share at one point back in 2023. Today, the stock trades at around $62. Despite big competition from native e-commerce checkout, Apple and Alphabet's Google Pay, peer-to-peer services, and software providers such as Stripe, PayPal has continued to grow its sales and profits at a steady clip each quarter.

On July 30, PayPal once again reported strong quarterly growth despite this competition narrative, with revenue growing 8% year over year. And yet, the stock still sits at just $62 compared to over $250 a share a few years back. Does that make PayPal stock ridiculously cheap?

Time to take a closer look at this financial technology giant and see whether it belongs in your portfolio today.

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Source Fool.com