This Number Is Why PayPal Is Worth Buying Today
Shares of PayPal Holdings (NASDAQ: PYPL) have been getting clobbered over the past 10 months or so, falling more than 70% off all-time highs set in July 2021. While part of this has been due to the broad market sell-off all investors have seen lately, it was also because of a shift in strategy mentioned during the company's fourth-quarter earnings call in February. Management noted at that time that it planned to shift from a focus on monetizing users rather than just growing users and that concerned some investors.
The company's fiscal 2022 first-quarter earnings -- which were reported on April 27 -- showed the shift is having some preliminary success. The company is still increasing its user base, but the real highlight of the quarter was higher engagement. While the quarter had some flaws, it showed initial triumph in this new expansion strategy.
PayPal still has a lot to prove, but this sign of renewed life might be the signal to consider adding shares of this leading fintech platform to your portfolio.
Source Fool.com
