Do You Have These Fintech Stocks On Your Watchlist?
Fintech stocks are among the most popular stocks for investors in the stock market over the past few years. That said, many of the top names in the industry have seen significant corrections recently. It is understandable as investors turned cautious on high-growth stocks amid the potential multiple interest rate hikes by the U.S. Federal Reserve this year. Similar to many tech stocks that saw bearish sentiments, the fintech industry is no exception. However, it should be noted that the opportunities for fintech companies are massive, considering how broad the payments, banking, investing, and insurance industries are.
Take Visa (NYSE: V) for example. The company recently announced its fiscal first-quarter earnings report that surpassed Wall Street’s quarterly estimates. It reported that transactions increased 21% to $47.6 billion year-over-year. Meanwhile, its net revenue increased to $7.1 billion, representing an increase of 24% year-over-year. Now, Visa believes that there will be more upside from the continued recovery of travel and hopes that customers will get back to pre-pandemic spending. Keeping this in mind, investors would likely continue to pay close attention to the fintech industry. So, here is a list of the top fintech stocks in the stock market today.
Fintech Stocks To Watch This Week
- Block Inc (NYSE: SQ)
- Upstart Holdings Inc (NASDAQ: UPST)
- Paypal Holdings Inc (NASDAQ: PYPL)
- Morgan Stanley (NYSE: MS)
- JPMorgan Chase & Co (NYSE: JPM)
Block
Block, formerly Square, is a technology company that specializes in financial services. Consumers use its tools to access the economy. Its building blocks are made up of Square, Cash App, Spiral, and TIDAL, to list a few. Hence, sellers could run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With the rising adoption of cryptocurrency, Block has also been shifting its core business operations in a similar direction.
Last week, Square announced its arrival in Spain following a successful Early Access Program. So, Spanish entrepreneurs and business owners will now have access to its ecosystem of tools.
For now, this is the only end-to-end solution of its kind in the country. Merchants within the country can now run their entire business end-to-end with integrated software, hardware, and data analytics to promote further growth for their businesses. Given these factors, would SQ stock be a top fintech stock to buy now?
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Upstart
Another top fintech stock to note is Upstart. Essentially, the company offers a cloud-based artificial intelligence (AI) lending platform. Its platform would aggregate consumer demand for loans and connect it to its network of Upstart AI-enabled bank partners. Fascinating enough, despite the recent weakness in UPST stock, it has still risen more than 50% since a year ago. After all, the company continues to see increasing adoption of its services among financial institutions.
For starters, the company announced two new partnerships just within the month of January. Corning Credit Union and AgFed Credit Union will be the latest addition to the long list of companies that utilize its platform.
Both companies have similar goals of reaching more new members in the communities they serve. Also, it would also help them to deliver a modern, all-digital experience powered by AI to better serve their communities. Overall, would UPST stock be worth a look at its current valuation?
Paypal
Despite PayPal’s recent struggles in the stock market, it remains one of the top fintech stocks on the watchlist of many investors. After all, the digital payments company’s products and services are widely used by consumers around the globe. Its combined payment solutions include PayPal, Venmo, Xoom, Braintree, and many more. In brief, customers can use their PayPal accounts to pay for goods, as well as to transfer and withdraw funds.
Well, PayPal’s Venmo recently introduced a new way for its customers to gift money to friends and family for any occasion through its new gift-wrapping feature. Customers will then have access to eight unique and vibrant animated gift-wrap designs that can be added to a payment note.
While it may seem relatively insignificant, this is a service that consumers continue to adopt in their daily financial lives. The company claims that 78% of Venmo users indicated that they have sent money as a gift via person-to-person payment service in the past year. Hence, this new addition would be a nice touch to attract more customers to its payment solutions. All things considered, would you be investing in PYPL stock now?
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Morgan Stanley
Unlike the aforementioned companies, Morgan Stanley is generally known to be a traditional financial institution. Yet, the company continues to adapt to the rising trend of financial technology. In fact, it is the first big U.S. bank to offer its wealthy clients access to bitcoin funds last year. Impressively, MS stock has climbed more than 50% over the past year and its latest earnings report is also nothing short of impressive.
Earlier this month, Morgan Stanley announced its fiscal fourth-quarter and full-year 2021 earnings report. It was an outstanding year for the bank as it announced a record net revenue of $59.8 billion, an increase of 22.5% year-over-year.
Meanwhile, its net income for the year was $15.0 billion or $8.03 per diluted share. Considering its strong business and ongoing momentum, it is not surprising why some investors are bullish on the stock. Thus, would you consider watching MS stock?
JPMorgan
Similar to Morgan Stanley, JPMorgan is one of the top global banks. Among its banking industry peers, the firm is a leader in the investment banking industry. The firm manages trillions in assets worldwide. Overall, JPMorgan provides a vast array of financial services. This ranges from serving consumers, and businesses of varying sizes to commercial banking alongside financial transaction processing and asset management.
Recently, the company announced that it has entered into an agreement to acquire an ownership stake of approximately 49% in Viva Wallet. For those unaware, Viva Wallet is a leading European cloud-based payments fintech company. With more than 17 million merchants in Europe ready to implement scalable payments solutions, this is a potential area of growth for JPMorgan.
Also, this strategic investment is further evidence of the company’s commitment to better serving global and European clients. With that in mind, would you consider adding JPM stock to your watchlist?
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