Do You Have These 5 Fintech Stocks On Your List Going Into March 2022?
Those who invested in fintech stocks have been on a roller coaster ride over the past few years. Many fintech companies skyrocketed during the pandemic due to the increasing adoption of their products and services. However, the stock market has been under pressure over the past few months and fintech stocks are among those that were affected heavily. Well, some may argue that this is a healthy correction, and that the meteoric rise of some of these stocks is likely not sustainable. Now begs the question, what does the future hold for fintech companies? Well, many believe that fintech is a secular trend and its long-term prospects are still intact.
Furthermore, the recent Omicron scare did not have a huge negative impact on consumer spending as some may expect. Visa (NYSE: V) recently announced that the U.S. consumer spending momentum remains strong in January. Fintech investors would be relieved to see that the current wave’s impact on spending was less than prior outbreaks. Not to mention, companies such as Block and Intuit (NASDAQ: INTU) recently announced their quarterly updates that reflect the increasing adoption of fintech. Intuit’s online ecosystem revenue improved to $1.1 billion, netting an increase of 74% compared to the prior year’s quarter. All in all, fintech stocks could be an attractive opportunity at their current valuations. Now, if this resonates with you, let’s look at some of the top names in the stock market today.
Fintech Stocks To Watch In March 2022
- Block Inc (NYSE: SQ)
- Upstart Holdings Inc (NASDAQ: UPST)
- Fiserv Inc (NASDAQ: FISV)
- Mastercard Inc (NYSE: MA)
- Affirm Holdings Inc (NASDAQ: AFRM)
Block
As far as beaten up fintech stocks go, Block would be one of the top names that come to mind. In essence, it is a tech company that focuses on financial services. Block helps sellers to run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services.
Also, its Cash App allows anyone to access the economy by sending, spending, or investing their money. After a strong performance during the pandemic, SQ stock has been on a decline in recent months. Nevertheless, the stock reverses up as earnings top estimates amid Afterpay acquisition.
For the quarter, Block’s revenue came in 29% higher year-over-year to $4.08 billion, slightly exceeding the consensus estimates by analysts. Meanwhile, its gross profit for the quarter was $1.18 billion, up 47% year-over-year. It appears Block may have proven its doubters wrong. Based on these numbers, would SQ stock be a top fintech stock to watch now?
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Upstart
Upstart is a cloud-based artificial intelligence (AI) lending platform. The platform aggregates consumer demand for loans and connects it to its network of Upstart AI-enabled bank partners. In brief, each bank can define its own credit policy and determine the significant parameters of its lending program. UPST stock has risen by about 90% over the past year.
Earlier this month, Upstart announced its fourth-quarter and full-year 2021 financial results. The company’s revenue came in at $305 million, up by a staggering 252% compared to the prior year’s quarter. This is coupled with a GAAP net income of $58.9 million, up from $1.0 million in the fourth quarter of 2020.
Overall, with triple-digit growth and record profits across the board, it was an exceptional year for the company. Upstart believes that 2021 will be remembered as the year AI lending came to the forefront and the best is yet to come. Given such an impressive financial showing, would you consider UPST stock a bargain at its current price?
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Fiserv
Next, we have Fiserv, a global provider of payments and financial services technology solutions. Its Fintech segment is engaged in providing financial institutions with the technology solutions they need to run their operations. Having clients around the globe, including banks, credit unions, and even government bodies, Fiserv plays a key role in the fintech industry.
After yet another satisfactory financial year, the company continues to build on its momentum. Fiserv recently announced the expansion of its relationship with UnionPay International, one of the world’s largest payment networks.
This continuous collaboration will enable UnionPay to grow on a global scale by facilitating its UnionPay cards across international markets. It will do so by utilizing Fiserv’s Carat omnichannel commerce platform to streamline the acceptance of its cards by enterprise businesses worldwide. With that in mind, would you consider adding FISV stock to your watchlist?
Mastercard
Similar to all the previous entries thus far, Mastercard is among the leading fintech companies in the world. By leveraging technology, the company connects consumers, financial institutions, merchants, governments, and businesses across the world through the use of electronic forms of payments. Mastercard allows users to make payments via payment solutions and services using its brands, such as Mastercard, Maestro, and Cirrus.
Yesterday, Mastercard along with Bank of the West, a subsidiary of BNP Paribas, announced the launch of Digital Doors™. This is a new small business offering that offers resources and interactive tools to aid small businesses in their growth while protecting their online presence.
One of the most glaring changes after the pandemic is the shift of business to digital platforms. Hence, it is imperative that the company is at the forefront to provide tools and resources that could help small businesses. All things considered, does MA stock have more room to grow?
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Affirm
Last but not least, we will be looking at Affirm. In detail, it allows consumers to pay for a purchase over time via its tech-driven payment networks and partnerships with banks.
As such, consumers can select their repayment options, and loans are funded and issued by their originating bank partners. To say the least, AFRM stock has been sliding over the past few months. However, could things be turning around soon?
Earlier this month, Affirm reported its fiscal second-quarter results. It saw gross merchandise volume increase to $4.5 billion, up by a whopping 115% year-over-year. In addition, the active merchants on its platform increased from 8,000 to a staggering 168,000. This is largely driven by the massive adoption of Shop Pay Installments by merchants on Shopify’s (NYSE: SHOP) platform. With Affirm’s strong growth, should you be keeping a close tab on AFRM stock?
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