¿Por qué las recientes caídas del mercado han convertido a PAYPAL en una acción infravalorada?


A pesar de un futuro prometedor a largo plazo, las acciones de PayPal Holdings no han escapado a la liquidación tecnológica. Ha perdido aproximadamente la mitad de su valor en comparación con su máximo de julio.
Sin embargo, lo que los inversores que consideren esta acción deben recordar es que algunas de las acciones tecnológicas de crecimiento con mejor desempeño en la historia han experimentado múltiples caídas del 50% en su historia. La volatilidad de los precios es la norma para las acciones de fuerte crecimiento, no la excepción.
Por lo tanto, en lugar de entrar en pánico por la caída, nuestros analistas de XLNTRADE recomiendan a los inversores deberían mirar más de cerca para ver si la caída brutal del precio de las acciones de PayPal lo ha convertido en una posibilidad de inversión tremendamente infravalorada.
LA CAIDA DE LAS ACCIONES
PayPal alcanzó un máximo intradiario de $310,16 por acción el 26 de julio. Durante los últimos seis meses, los inversores han vendido las acciones por varias razones. Perdió impulso a principios del año pasado debido a que los consumidores usaban los servicios fintech con menos frecuencia a medida que volvían a las opciones de compra fuera de línea.
Las acciones de PayPal también han caído debido a una venta masiva de acciones tecnológicas que también golpeó a su archirrival Block, antes conocido como Square. El precio actual de PayPal de alrededor de $157 por acción representa una caída del 38% en comparación con los niveles de hace un año. En consecuencia, el precio de las acciones de fintech ha caído a su nivel más bajo desde mediados de 2020.
¿SIGUE SIENDO UNA PROPUESTA ATRACTIVA?
Dichos cambios en el precio de las acciones pueden llevar a los inversores a reevaluar lo que PayPal ofrece al mercado fintech. Esto conduce inevitablemente a la comparación de las plataformas de pago social, específicamente Venmo de PayPal versus la alternativa de Block, Cash App. En esta área, PayPal y Block compiten directamente.
Además, esta competencia se extendió recientemente al mercado Compre ahora, pague después (BNPL). PayPal ofreció este servicio por primera vez en los EE. UU. y luego adquirió Paidy, con sede en Japón, por $ 2.7 mil millones. En contraste, Block ingresó a ese mercado pagando $ 29 mil millones por la compañía australiana BNPL Afterpay.

Sin embargo, en otras áreas, la competencia es más indirecta. El ecosistema Block’s Square se enfoca en los negocios, enfatizando la administración comercial, la administración del dinero y la banca. Por el contrario, las funciones comerciales dentro del ecosistema de PayPal ayudan principalmente a las empresas a enviar y cobrar dinero digitalmente. También aprovecha su presencia en más de 200 países para gestionar transacciones transfronterizas. Este segmento representa alrededor del 25% del volumen total de pagos de la empresa.
DATOS FINANCIEROS Y PROXIMAS GANANCIAS
A través de tales ventajas y sus plataformas en general, PayPal generó ingresos de poco más de $ 18,5 mil millones durante los primeros nueve meses de 2021, un aumento del 20 % sobre lo que la compañía informó en los primeros tres trimestres de 2020. Esto llevó a $ 3,4 mil millones en ingresos netos en los tres primeros trimestres de 2021, un aumento del 28 % con respecto al mismo período de 2020. El crecimiento más lento de los gastos operativos y los menores gastos de impuestos sobre la renta en medio de ajustes fiscales discretos impulsaron el crecimiento de las ganancias.
PayPal publicará sus cifras de todo el año 2021 el martes 1 de febrero. Si la empresa cumple con las expectativas de ingresos de 25.400 millones de dólares, el aumento interanual del 18 % significaría un aumento de ingresos similar al del último trimestre. Aun así, esto puede preocupar a los inversores, ya que Research and Markets pronostica que la industria fintech mundial crecerá a una tasa de crecimiento anual compuesta del 27 % hasta 2026, superando significativamente la tasa de crecimiento actual de PayPal.
Aunque es probable que PayPal no esté muy infravalorado, la caída de las acciones de PayPal ha hecho que las acciones sean una inversión más atractiva, especialmente en comparación con Block. Teniendo en cuenta el reciente aumento del 28 % en las ganancias, la relación P/E de 38 ofrece una gran oportunidad de compra para esta acción gigante de Fintech.
Información de Waldo Silva
Financial Markets Analyst

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