Is PayPal a Top Growth Stock to Buy Right Now?
Digital payments giant PayPal (NASDAQ: PYPL) recently reported its 2022 third-quarter financials, posting revenue of $6.8 billion and adjusted earnings per share (EPS) of $1.08, both of which exceeded Wall Street forecasts. Nonetheless, the stock fell after the announcement thanks to a disappointing Q4 revenue forecast, as the market tends to care more about the outlook than past numbers.
PayPal has historically been able to post greater than 15% annual sales growth like clockwork, but with a slowdown imminent, is this still a top growth stock for investors to buy? Let's take a closer look at the fintech pioneer.
During the three-month period that ended September 30, PayPal added 2.9 million net new active accounts, bringing the total to a whopping 432 million. And these users are engaged, as the number of transactions per account (over the trailing 12-month period) was 50.1, up 13% year over year. Total payment volume, a key metric that investors should follow, came in at $337 billion in the quarter, a gargantuan amount.
Source Fool.com
