PayPal: Fair Value $60
@zippyloo：
Summary PayPal's organic NNA growth dropped 30% below the 2019 baseline recently. With recession risks growing, PayPal may pull its 2022 net revenue and NNA guidance. I see a fair value substantially below current prices. As the likelihood of a recession grows, it is more likely that $PayPal(PYPL)$ will lower its net revenue and account growth guidance for 2022. With PayPal's stock already dangerously close to 52-week lows, I believe withdrawing PayPal's 2022 guidance exposes investors to significant risks going forward. PayPal has a risk-adjusted fair value of $60, and I don't believe the stock will rise in the near future. Net New Active Accounts Growing Much Slower Than Before The Pandemic PayPal forecasted15-17% net revenue growthin 202