After a brutal bear market, the Nasdaq Composite Index quietly entered a new bull market at the end of last month, rallying 20% from its bottom. While the index has started to recover, numerous top Nasdaq stocks remain mired in a bear market. Because of that, many still look like compelling investment opportunities, including  (NASDAQ: PYPL). 

While shares of the financial technology company have rallied about 11% from their bottom, they could have a long way to run since they're still down by a third from their peak. That slump has it trading at a bargain-basement valuation. With the company buying back its shares hand over fist, PayPal stock looks like a screaming buy right now as the Nasdaq appears to be in the early stages of a bull-market run. 

PayPal faced its share of headwinds last year. That's evident in its earnings decline. Non-GAAP earnings slumped 10% to $4.13 per share in 2022. PayPal's bloated cost structure and the absence of a benefit from credit-loss reserves negatively impacted earnings.

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Source Fool.com