5 Top Fintech Stocks To Watch As Affirm Soars On Strong Earnings Growth
September 12, 2021 at 11:06 AM EDT
Are These The Best Fintech Stocks To Buy In The Stock Market This Week?
Fintech stocks continue to make waves in the stock market today. For the most part, this would be thanks to the growing need for contactless payment solutions. Throughout the current pandemic, the fintech industry has gone from one of convenience to a necessity. This appears to be the case from conventional financial service providers to specialized sectors in the space. Notably, an emerging trend in the fintech world now would be Buy-Now-Pay-Later (BNPL) services. Accordingly, leading BNPL provider Affirm Holdings (NASDAQ: AFRM) is in focus in the stock market now.
Diving right into it, the company posted solid figures in its latest fiscal quarter report yesterday. To highlight, it saw a total revenue of $261.8 million for the quarter. This would mark a significant 71% jump year-over-year. Additionally, the company also saw its gross merchandise volume grow by 106% over the same time.
According to Affirm CEO Max Levchin, all this would be thanks to the company’s rapidly expanding network of active consumers and merchants. For some perspective, Affirm nearly doubled its consumer count and saw its active merchant base skyrocket by 400% year-over-year. At the same time, PayPal (NASDAQ: PYPL) is now looking to acquire Japan-based BNPL service provider Paidy for $2.7 billion. With all that said, would one of these top fintech stocks be worth investing in now?Top Fintech Stocks To Watch In September 2021
First, on this list of fintech stocks, we have Sea Limited, a leading global consumer internet company with headquarters in Singapore. In brief, the company operates three core businesses across digital payments/financial services, digital entertainment, and e-commerce. SeaMoney is a leading digital payments and financial services provider in Southeast Asia. Notably, the company continues to see strong growth in the adoption of its SeaMoney offerings. SE stock is up by over 130% in the past year alone.
In August, the company reported yet another stellar quarter. Diving in, its total GAAP revenue for the quarter was $2.3 billion, up by a whopping 158.6% year-over-year. A chunk of this revenue came from its e-commerce business, Shopee, at a GAAP revenue of $1.2 billion and is up by 160.7% year-over-year. Shopee is used by tens of millions of consumers daily and it offers a wide product assortment, supported by integrated payments and seamless fulfillment. Impressively, gross orders for the quarter totaled at 1.4 billion, increasing by over 120% compared to a year earlier. Given the solid financials, will you watch SE stock?Source: TD Ameritrade TOS
Read MoreUP Fintech Holding Ltd
UP Fintech is a leading online brokerage firm that focuses on global investors. Also, its proprietary mobile and online trading platform enable investors to trade in equities and other financial instruments on multiple exchanges around the world. In detail, it offers innovative products and services to customers through its mobile-first strategy, which enables the company to better serve and retain current customers. TIGR stock is up by over 200% in the past year.
Today, the company has just reported its second-quarter financials. To begin, its total revenue for the quarter was $60.2 million, a 98.7% increase from a year earlier. It continues to invest in its self-clearing, user acquisitions, and talent recruiting, which are all essential for its future growth and current strategies. The company says that it also continues to see a significant increase in the number of newly funded accounts, adding over 150,000 funded accounts in the second quarter alone. Its total account balance reached $23.9 billion despite the challenging market conditions, nearly tripling from a year ago. All things considered, is TIGR stock worth watching right now?Source: TD Ameritrade TOS Visa Inc.
Visa is a global payments technology company with a presence in more than 200 countries and territories. Also, its financial services connect millions of consumers, businesses, banks, and governments all around the world. Furthermore, this impressive fintech service is supported by its advanced global processing network, VisaNet, which provides secure and reliable payments around the world. In July, the company announced that it had signed a definitive agreement to acquire Currencycloud.
In essence, Currencycloud is a global platform that enables banks and fintech companies to provide innovative foreign exchange solutions for cross-border payments. The acquisition will build on an existing strategic partnership between the two companies and values.
Additionally, Currencycloud’s cloud-based platform offers a broad set of APIs enabling banks and financial services providers to offer currency exchange services, including real-time notifications on foreign exchange transactions, multi-currency wallets, and virtual account management. The Currencycloud platform supports nearly 500 banking and technology clients with a reach in over 180 countries. Given this exciting piece of news, will you consider watching V stock?Source: TD Ameritrade TOS Robinhood Markets Inc.
Another name to consider in the fintech space now would be Robinhood Markets. To summarize, Robinhood is a commission-free stock exchange platform operator. Through its mobile app, the company empowers the general public by allowing them to trade stocks seamlessly. For a sense of scale, Robinhood’s platform currently boasts over 21.3 million monthly active users. The likes of which add up to 22.5 million net cumulative funded accounts and about $102 billion worth of assets.
Aside from its role in the meme stock trade this year, the company continues to bolster its services to match the latest industry trends. Earlier this week, Robinhood announced plans to roll out “crypto recurring investments”. Through this feature, Robinhood allows users to purchase digital coins commission-free.
Moreover, transactions can start at as little as $1. Regardless of how the crypto market is performing, the demand for such services remains at a high. Given this timely play by Robinhood, would you consider HOOD stock a top watch?Source: TD Ameritrade TOS Upstart Holdings Inc.
Topping off our list today is Upstart Holdings. In brief, Upstart mainly operates via an artificial intelligence (AI)-based lending platform. Through a series of partnerships with banks and credit unions, Upstart offers consumer loans. Setting itself apart from other conventional lenders, Upstart considers non-traditional variables such as education and employment to consider credit scores. As it stands, shares of UPST stock are up over 530% year-to-date.
If anything, the company’s services seem to be in high demand now. As of this week, it is now partnering up with the Los Angeles Country Water and Power Community Credit Union (WPCCU). Furthermore, with over 10 million people in the region, WPCCU President Barry Roach believes that the current partnership is a significant one. Not to mention, Upstart saw green across the board in its latest fiscal quarter. It posted year-over-year surges of 896% in total revenue, 702% in net income, and 192% in earnings per share. With Upstart’s current momentum, will you be watching UPST stock now?Source: TD Ameritrade TOS