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PayPal climbed three spots to take the top position in this week’s Roundtable 100 technology strength ranking, supported by a stronger earnings outlook, a multibillion-dollar share buyback program and wider use of its PYUSD stablecoin.

PayPal Leads Despite Growth Challenges

The ranking reflects a balance between PayPal’s strengths, including improved earnings expectations and its multibillion-dollar share repurchase program, and challenges such as slower user growth and intensifying competition in digital payments as companies including Apple and Shopify expand their online commerce operations.

Roundtable 100 ranks 100 publicly traded growth-oriented technology assets using criteria that include management strength, security, value, innovation and market dominance. The companies are then ranked based on their average scores.

Analyst John Devine said PayPal continues to hold a strong position in digital payments despite the recent slowdown in user growth. He noted that consumers and merchants still rely on the company as a major way to transfer money and complete online payments.

PayPal is also benefiting from a stronger earnings outlook and a major share buyback program, which reduces the number of shares outstanding and supports the value of the stock.

PYUSD Expands PayPal’s Digital Asset Strategy

PYUSD has become another component of PayPal’s strategy after the company opened the stablecoin to external developers, allowing its use to expand and creating new ways to deploy it across payments and digital assets.

PYUSD has a market capitalization of about $2.76 billion, representing roughly 0.91% of the stablecoin market.

On September 9, PayPal, M0 and MoonPay launched PYUSDx, a platform that enables companies to build products operating on blockchain networks and backed by PYUSD.

Saturn, Concrete and Cap had already begun working through the platform, which has processed more than $100 million in transaction volume.

PayPal was not the only major mover in the ranking. Root climbed three spots to No. 6, while Pattern Group fell six places to No. 7. Palo Alto Networks dropped five spots to No. 11, and Sezzle declined seven places to No. 28. Keel Infrastructure, meanwhile, gained two positions to rank 17th.