Are These The Best Fintech Stocks To Invest In Today?
For investors wondering about what stocks to buy today, fintech stocks are in an interesting position, to say the least. Sure, the industry as a whole may be losing momentum in the stock market now. This comes as high-growth tech names, in general, continue to experience sell-offs amidst a volatile market. Nevertheless, fintech companies are still a crucial and relevant section of the financial services sector today. After all, as fund transfers, loan applications, and even stock trading go digital, this would be apparent.
For one thing, there is no shortage of innovation in the space as well. Just earlier this week, Block’s (NYSE: SQ) hardware lead Jesse Dorogusker provided a sneak peek into the company’s latest work. Namely, Dorogusker posted a photo on his Twitter (NYSE: TWTR) account, showing prototypes for the company’s physical Bitcoin wallets. This would be part of CEO Jack Dorsey’s efforts to help people “safely own and manage their Bitcoin,” further bolstering general adoption. In this respect, the crypto and blockchain-focused side of the industry would be an emerging field to consider.
Meanwhile, even some of the biggest names in the tech world today are looking toward expanding into fintech. To point out, a recent report from the Financial Times (FT) suggests that Meta Platforms (NASDAQ: FB) is considering making virtual tokens. As it stands, employees are reportedly referring to these tokens as ‘Zuck Bucks’. According to FT, the Zuck Buck will likely serve as a new currency for users in Meta’s upcoming metaverse. Safe to say, while the industry may be going through a rough patch now, it continues to press forward. On that note, here are three fintech stocks making plays in the stock market today.
Fintech Stocks To [Buy Or Sell] This Month
- PayPal Holdings Inc. (NASDAQ: PYPL)
- Visa Inc. (NYSE: V)
- Fiserv Inc. (NASDAQ: FISV)
PayPal Holdings Inc.
For starters, we will be taking a look at PayPal, a goliath in the fintech space now. By and large, if a country has systems that support online money transfers, PayPal’s services are likely present. Through its comprehensive suite of financial services, the company aims to make commerce more affordable, convenient, and secure. It does so for over 425 million consumers and merchants across 200 global markets. Because of all this, investors may want to consider looking into PYPL stock now.
Notably, PayPal remains a go-to for even younger consumers. This is according to the latest survey data from Piper Sandler (NYSE: PIPR) on American teen consumer spending trends. In essence, Piper Sandler found that PayPal is a go-to for teens in the buy-now-pay-later category. At the same time, analysts at Wells Fargo (NYSE: WFC) also seem to be bullish on PYPL stock now. Earlier this week, analyst Jeff Cantwell hit the company’s shares with an Overweight rating and a $152 price target. This would suggest a potential upside of about 35% over its closing price of $112.49 yesterday.
Aside from all that, PayPal continues to refine its existing financial services as well. Simply put, the company is revamping its co-branded PayPal Cashback Mastercard (NYSE: MA) credit card. Following this move, the card now gives users 3% cashback when checking out using PayPal. Overall, as PayPal seems to be on a roll now, investors could be tuning in to PYPL stock. Would you agree?
Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, banks, and governments in more than 200 countries and territories. The company enables its users to use digital currencies instead of cash and checks. It is a world leader in digital payments and has been facilitating payments for many decades.
Last month, Visa announced that it has completed the acquisition of Tink, an open banking platform that enables financial institutions, fintech, and merchants to build financial products and services and move money. Through a single API, Tink enables its customers to move money, access aggregated financial data, and use smart financial services such as risk insights and account verification. Tink is integrated with more than 3,400 banks and financial institutions, reaching millions of bank customers across Europe.
“Digital tools are driving the new economy, and the combination of Visa and Tink will support greater choice and quality of digital money services as the lines between commerce, financial services and payments continue to converge,” said Charlotte Hogg, CEO of Visa Europe. The company will also announce its second-quarter financials on April 26, 2022. Following that, will you consider investing in V stock today?
[Read More] Top Stock Market News For Today April 7, 2022
Fiserv Inc.
Last but not least, we have Fiserv, a fintech company that aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas that include account processing and digital banking solutions.
On April 1, 2022, the company announced that it has completed the acquisition of Finxact. Finxact is led by pioneers in banking that have developed the industry’s leading next-gen core banking platform. It provides a Software-as-a-Service platform that is engineered to support the scale and regulatory requirements of the largest U.S.-based financial institutions. The company’s cloud-native banking system provides 100% accessibility to all data and functions via a robust set of modern APIs, empowering banks and their partners to rapidly deliver new experiences.
It also recently collaborated with Mastercard’s (NYSE: MA) Finicity, to offer consumers more choices through secure data access. A data access agreement between the two companies will allow thousands of Fiserv’s clients to enable consumers to provide clear and explicit permissions to securely share their information with apps that use Finicity’s open banking platform. This will offer more payment choices and also allow access to an expanding range of financial services experiences. It will also improve overall financial literacy and wellbeing. With that being said, is FISV stock a buy?
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