As of January 23, 2024, PayPal's market capitalization stands at $67.94 billion. This valuation places PayPal as the 247th most valuable company globally.
Market capitalization, often referred to as market cap, is a measure of a company's total value in the stock market. It is calculated by multiplying the current share price by the total number of outstanding shares.
For instance, if a company has 1 million outstanding shares and its stock is trading at $50 per share, the market capitalization would be $50 million.
In the case of PayPal, its market capitalization of $67.94 billion reflects the total value of all its outstanding shares as of January 23, 2024.
The ranking of PayPal as the 247th most valuable company globally indicates its relative standing among other companies in terms of market capitalization. This ranking takes into account the market capitalizations of thousands of companies worldwide.
It's worth noting that market capitalization can fluctuate over time as a result of changes in a company's stock price or the number of outstanding shares. Therefore, the current market cap of PayPal may differ from the aforementioned figure.
References:
PayPal - https://www.paypal.com/
Investopedia - https://www.investopedia.com/terms/m/marketcapitalization.asp