3 Bargain Tech Stocks to Buy Ahead of Q2 Earnings - PAYPAL

High-growth tech stocks were among the market's best performers before the general tech sell-off in 2022 that sent the NASDAQ 100 into a bear market earlier this year.

Rising interest rates, rising inflation and a potential recession are just some of the concerns plaguing the sector. Despite this, there are three tech companies worth considering ahead of their upcoming earnings, as they all have plenty of room to grow their businesses, making them solid long-term investments.

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PayPal

• Earn Date: After the close of business on Tuesday, August 2
• EPS Growth Forecast: -24.3% y/y
• Revenue Growth Forecast: +9.0% YoY
• Year-to-Date Performance: -58.8%
• Market Capitalization: $90.1 billion

PayPal (NASDAQ:PYPL) has also seen its value plummet in recent months amid a wave of selling in the tech sector. Hovering near its lowest level since October 2017, shares of the San Jose, California-based company underperformed the overall market by a wide margin in 2022. Shares of the e-payment operator, which are about 75% below its all-time peak of $310.16 in July 2021, hit a five-year low of $67.58 on June 30 this year. PayPal posted strong first-quarter earnings but lowered its full-year outlook. Consensus expects the digital payment processing company's revenue to rise 9% year-on-year to $6.8 billion but EPS to fall 24.3% to $0.87. The company's pristine balance sheet and leadership position in its market, coupled with the shares' attractive valuation, means they are well positioned to move higher.