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3 Top Fintech Stocks To Watch In January 2021

Could these fintech companies be in for a prosperous year ahead?

Fintech stocks

Looking For The Top Fintech Stocks To Watch Right Now?

Fintech stocks have had a stellar 2020. Rightfully so, as countless people have come to rely on digital payment solutions throughout their daily lives. Whether it is the average consumer or businesses of varying sizes, fintech offers vital services in these times. On one hand, this is due to the coronavirus pandemic making social distancing a new norm for all consumers. On the other hand, the push for digital acceleration has also seen many business owners flocking to fintech companies to bolster their payment infrastructures. Therefore, investors have been looking for top fintech stocks to buy right now.

With cashless payments being the safest means of buying just about anything now, fintech companies have been seeing huge gains. We only need to look at the likes of Square (SQ Stock Report) and StoneCo (STNE Stock Report). The two have seen gains of over 100% in their stock price over the past year. Understandably, investors may be looking at this and wondering if there is still time to jump on the fintech train. Given the tailwinds from 2020, it would depend on when the pandemic ends. By current estimates, it could take somewhere between months to years to vaccinate the world. In that time, fintech stocks and investors could still be reaping the rewards.

Nevertheless, people will likely continue to rely on fintech in the future. Being able to make payments digitally provides a new dimension of convenience to consumers. Can this convenience cement the importance of fintech in the lives of the general public? Your guess is as good as mine. But, while we’re on the topic, here is a list of the top fintech stocks to watch this week.

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Best Fintech Stocks To Watch This Week: Futu Holdings 

Futu (FUTU Stock Report) is a leading tech-driven online brokerage and wealth management platform. The China-based company offers investment services through its proprietary digital platform, Futubull. Futubull is a highly integrated application that investors can access through their mobile devices. Some say Futu is the Robinhood of China. Speaking of investing, FUTU stock is up by over 340% in the past year. Let’s take a closer look.

On November 19, 2020, the company reported record earnings in its third-quarter fiscal. In it, Futu saw a 281% year-over-year jump in total revenue. To add to that, investors were definitely thrilled by the 1800% surge in earnings per share over the same period. CEO Leaf Hua Li explained, “We continued to deliver strong results in the third quarter of 2020. Net paying client addition was approximately 115 thousand, bringing the total number of paying clients to over 418 thousand, up 136.5% year-over-year.” He also mentioned that the company was very confident about hitting its full-year guidance. This would explain why FUTU stock hit its current all-time high the day after the report was posted. Although the stock has taken a breather since then, investors are sure to be hungry for more.

In line with that, Futu does not seem to be resting on its laurels just yet. Just last week, it was reported that Futu is on track to launch its operations in Singapore by April this year. Li said, “Singapore is one of the major financial centers in the world, while it can also serve as a bridge to Southeast Asia.” At the same time, there were also mentions of a U.S. expansion as well. Futu seems to have a busy year planned ahead. Do you think FUTU stock will benefit from this?

[Read More] Why Square (SQ) Stock Could Go Higher In 2021 And Beyond

Best Fintech Stocks To Watch This Week: JPMorgan

Multinational investment bank and financial services company JPMorgan (JPM Stock Report) needs little introduction. As of July last year, it was ranked by S&P Global as the largest bank in the U.S. and seventh-largest in the world. Notably, JPM stock appears to be catching up to its pre-pandemic high of around $140 a share. A recent play by the company could possibly contribute to its recent run-up.

On December 28, 2020, reports said JPMorgan decided to purchase leading third-party credit card loyalty operator, cxLoyalty Group. The bank will be acquiring the technology platforms, travel agency, gift cards, and points businesses of cxLoyalty Group. JPMorgan head of consumer lending business Marianne Lake said, “Acquiring the travel and rewards businesses of cxLoyalty will provide enhanced experiences to our millions of Chase customers once they are ready, comfortable, and confident to travel.”

Couple with JPMorgan’s relations with Expedia (EXPE Stock Report), the company seems to have long term gains in mind. Essentially, it will own both ends of a two-sided platform with millions of credit card users and direct relationships with hotel and airline companies. The bank appears positioned to make the most out of post-pandemic travel tailwinds. When that time comes, JPM stock investors could be in for a treat.

Financially, the company appears to be doing great as well. In its third-quarter fiscal posted in October, the company reported $28.52 billion in total revenue. Additionally, it also saw a 120% year-over-year rise in cash on hand to the tune of $462.82 billion. Considering JPMorgan’s solid financials and ambitious plans, will you be watching JPM stock moving forward?

[Read More] Should Investors Buy These EV Stocks Amid The Recent Pullback?

Best Fintech Stocks To Watch This Week: PayPal

PayPal (PYPL Stock Report) is undoubtedly one of the frontrunners in the field of digital finance. Its key services include mobile commerce and client-to-client transactions. The company has even ventured into the business of cryptocurrencies. With Bitcoin breaching the $34,000 over the weekend, it seems to be an exciting time for PayPal to say the least. The company’s share prices hit a new all-time high on December 23 but have since taken a slight breather. Investors may be wondering if it still has room to grow this year.

In its recent quarter fiscal posted last November, PayPal reported total revenue of $5.46 billion. Moreover, the company saw earnings per share increase by over 120% year-over-year. With these numbers, I’m not surprised to see that investors have been flocking to PYPL stocks in the last two months.

CEO Dan Schulman said, “PayPal’s third quarter was one of the strongest in our history. Our growth reinforces the essential role we play in our customers’ daily lives during this pandemic. Going forward, we are investing to create the most compelling and expansive digital wallet that embraces all forms of digital currencies and payments, and operates seamlessly in both the physical and online worlds.”

Given the company’s strategic play of waiving stimulus cheque-cashing fees, I’d say PayPal is definitely adapting well to the times. In other news, it was also reported that American Express (AXP Stock Report) will be collaborating with PayPal. In detail, AmEx Platinum cardholders will receive $30 in PayPal credit monthly for the first half of 2021. Safe to say, PayPal shows no signs of slowing down. Can PYPL stock continue its momentum this year?

By Joe Samuel

Joe Samuel is a dedicated stock market researcher and financial contributor. His love for the stock market started at a young age learning from his grandfather. Joe earned a bachelor of science degree in corporate finance and business management. After finishing college, he went the route of an entrepreneur starting numerous businesses and eventually became a financial contributor to a number of outlets including Seeking Alpha, Invesitng.com, and actively contributes to FactSet. At StockMarket.com, Joe looks for emerging stories. One of his traits is identifying new trends before they become mainstream. Whether it’s a biopharmaceutical company debuting a novel treatment or the next technology start-up developing a new platform, Joe looks to be on the cutting edge of that trend.

After years of living in New York, he made the move to Miami, Florida where he’s become an active member of the finance community. Joe has worked with early-stage companies in marketing and consulting capacities, which has given him an opportunity to see what makes companies tick. His viewpoint is that while corporate news is vital to any investment, it’s what isn’t “right in front of you” that can make a good investment great. His approach to the markets is one that aims to deliver information that might not be well-known. But through deep research and diligence, Joe has written about and been able to uncover time-sensitive information when seconds matter in the stock market today.

Joe enjoys covering several stock market sectors. These include commodities, finance, biotechnology, and technology; specifically AI & machine learning. His no-nonsense approach to the market gives readers a cut and dry view of the news that matters most and topics beginning to emerge as new trends in the stock market. He was early to the table with calls on things like the last gold rush in 2019 and has been able to identify influential events and how they could impact certain industries.

During his free time, he enjoys spending time with his family and polishing up one new stock market trends. He’s also an avid car enthusiast with a passion for classic and muscle cars.

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