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Best Stocks To Buy Now? 4 Fintech Stocks In Focus

These fintech stocks could be worth watching this month.

best stocks to buy now

4 Fintech Stocks To Watch Right Now

As financial technology continues to gain traction in the modern world, many investors are no stranger to fintech stocks. Some would say that the opportunities within the industry are massive. It ranges from payment services, investing, banking, insurance, and cryptocurrencies. However, some of the top names in the industry have gone through significant corrections over the past year. Some investors may argue that this could be a buy-on-dip opportunity as fintech adoption is showing no signs of slowing down.

For instance, JPMorgan Chase (NYSE: JPM) recently partnered with fintech OmniLatam to extend credit lines to mid-sized and small suppliers of big corporations in Latin America. As a result, OmniLatam will provide receivable-backed credit and working capital lines to suppliers of JPMorgan’s clients in the region. Along with that, we saw Radial, an e-commerce technology company, announcing that it will be partnering with Adyen (OTCMKTS: ADYEY). Radial will use Adyen for Platforms to streamline and consolidate their payment offerings to benefit their roster of clients in North America. In conclusion, it is very unlikely that fintech will drop off the map anytime soon. Given these considerations, here are some of the top fintech stocks to check out in the stock market today.

Fintech Stocks To Watch Today

Block

First, let us look at fintech giant, Block. Formerly known as Square, the company creates tools that enable its customers to access the economy. Its segments include Square and Cash App. Its Square segment is responsible for managing payment services, software solutions, and financial services products offered to sellers. Meanwhile, Cash App is a financial tool that offers peer-to-peer payments, stock, and even bitcoin investments. After a shaky start to the year, SQ stock has been under pressure for most of the past year, falling by nearly 60%. Could things be turning around soon?

Yesterday, Square announced that it is partnering with Apple (NASDAQ: AAPL) to enable Tap to Pay on the iPhone. This is Apple’s contactless payment acceptance capability, within the Square Point of Sale app. With this, sellers can seamlessly and securely accept in-person contactless payments with only an iPhone that has Square’s industry-leading POS app. As the fintech space continues to grow, it seems that Block is constantly putting in work to be at the forefront of this revolution. With that said, would you bank on the future of SQ stock today?

Source: TD Ameritrade TOS

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Visa

Following that, we have another top fintech company that should be no stranger to most, Visa. The payments technology company provides digital payments across more than 200 countries around the globe. With its wide array of services, it connects consumers, merchants, financial institutions, and government entities to electronic payments. Aside from that, most consumers would also be familiar with its Visa-branded credit and debit cards. Although V stock has been moving sideways since the start of the year, it has held up relatively well amid the broad market weakness.

Earlier this week, Visa announced a collaboration with Fundbox, an embedded working capital platform for small businesses. The partnership aims to strengthen Fundbox’s platform with the power of digital payments. As part of the partnership, the companies will launch the Fundbox Flex Visa Debit Card, issued by Pathward. In addition, both companies will also collaborate to introduce a series of new payment products. This will include a Buy Now, Pay Later (BNPL) solution for small businesses, and a push-to-card transfer option for instant fund disbursement through Visa Direct. Overall, it seems that Visa is still growing despite its stature in the financial world. So, should investors be paying more attention to V stock right now?

Source: TD Ameritrade TOS

Affirm

Affirm is a company that provides a platform for digital and mobile commerce. Through its technology-driven payments network and partnership with an originating bank, it enables consumers to pay for a purchase over time. Financially, Affirm has also been firing on all cylinders. In May, the company reported its fiscal third-quarter results. The company’s quarterly revenue grew to $354.8 million, up 54% year-over-year. Meanwhile, its Gross Merchandise Volume climbed to $3.9 billion, representing an increase of 73% year over year.

On top of that, Affirm also recently announced a strategic partnership with Stripe. For those unaware, Stripe is a financial infrastructure platform that is used by millions of companies around the world to accelerate their businesses. So, this partnership will make Affirm’s Adaptive Checkout™ available to Stripe users in the U.S. Combining both their expertise will likely provide immense value for businesses looking to reach new customers. Eligible customers will have the option to use Affirm to split the cost of purchases with a maximum credit limit of $17,500. Given these positive developments, could AFRM stock recover from its recent slump soon?

Source: TD Ameritrade TOS

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SoFi

To sum it all up, let us look at the digital personal finance company, SoFi Technologies. In detail, the company operates through three segments, Lending, Financial Services, and Technology Platform. SoFi believes that it can help people achieve their financial independence through its products and services. In fact, the company just announced yesterday that its SoFi Invest will roll out extended trading hours over the coming weeks. Members will have access to trading from 9 AM ET through 8 PM ET, adding 4.5 hours to the trading day. Naturally, this will allow its members to execute their investment ideas in a larger window from wherever they are.

Furthermore, there were plenty of positives from its fiscal first-quarter earnings report. The company’s GAAP total net revenue improved to $330 million, up 69% year-over-year. Meanwhile, it reported an adjusted EBITDA of $8.6 million, representing an increase of 110% compared to the prior year’s quarter. This also marks the seventh consecutive quarter of positive adjusted EBITDA by SoFi. Besides, the company added more than 408,000 new members during the quarter, ending with nearly 3.9 million total members, up 70% year-over-year. All things considered, would you be adding SOFI stock to your watchlist?

Source: TD Ameritrade TOS

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By Brandon Michael

Brandon Michael is a financial specialist and financial contributor to the stock market. He enjoys writing about rising stocks and how the market changes over time. He specializes in multimedia and events, as well as social media management and media contributing. He has managed and marketed hundreds of events, as well as grown social media pages upwards of 200,000 followers and everything in between. As an active social media influencer in the car community, he understands how to recognize trends and curate content for niches. From an early age, Brandon was fascinated by the power of social media and how it built companies and careers for many. Over time he has developed many different strategies for different platforms on how to grow different kinds of pages. In addition to social media skills, he is passionate about events, it is second nature to him to promote them and make sure that everything is executing perfectly. This has allowed him to partner with some of the largest companies in the industry to run events for hundreds of thousands of people. Brandon has written many articles for many notable top websites for the last 3 years. His focus in his writing is generally rising stocks and emerging trends in the stock market, as well as bringing companies with market potential to the frontlines of the media. It is easy for him to identify trends and do extensive research to make sure he’s providing the most accurate research possible. In his free time, he continues to improve his research skills and financial knowledge to continue providing the best work possible.

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