106.05 +0.01 (0.01%)
After hours: 5:31PM EDT
|Bid||106.30 x 800|
|Ask||106.50 x 800|
|Day's Range||105.51 - 110.13|
|52 Week Range||74.66 - 121.48|
|Beta (3Y Monthly)||0.84|
|PE Ratio (TTM)||50.54|
|Earnings Date||Oct 16, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||126.63|
Markets have been so volatile this summer on U.S.-China trade tensions that investors might not have noticed: Tech stocks are absolutely red-hot in 2019.Indeed, the technology sector of Standard & Poor's 500-stock index is leading the broader market by a mile this year, with a year-to-date gain of 29% through Aug. 21. By comparison, the S&P; 500 is up about 17%, while the tech-heavy Nasdaq Composite Index has risen 21%. (The second-best performing sector is real estate, up 25%.)Stellar gains are always welcome, but they do pose a challenge for investors. After such a big run-up, is there anything left worth buying at current levels?Analyst sure think so. Between momentum and the sector's outsize growth prospects, plenty of tech stocks have nowhere near topped out, they say.To see which picks analysts like best at this point, we screened the Nasdaq Composite for the top-rated small, midsize and large tech stocks. S&P; Global Market Intelligence surveys analysts' ratings on stocks and scores them on a five-point scale, where 1.0 equals Strong Buy and 5.0 means Strong Sell. Any score of 2.0 or lower means that analysts, on average, rate the stock a Buy. The closer the score gets to 1.0, the better.Here are the 12 tech stocks the analysts love right now. This group is broken down into the four best-rated stock picks in the small-, mid- and large-cap spaces. SEE ALSO: All 30 Dow Stocks Ranked: The Analysts Weigh In
The best tech stocks to buy and watch aren't hard to find, as long as you know you're fishing in the right pond. That means targeting top stocks showing resilience and holding near highs.
A number of new initiatives such as loyalty program, direct marketing, improved service, new website and launch of mobile app are aiding MoneyGram's (MGI) growth.
Mastercard (MA) teams up with Cubic Transportation Systems and Miami-Dade County Department of Transportation and Public Works to unveil tap-and-go payments at Miami Metrorail stations.
Over the past decade, Square (NYSE:SQ), the financial services and mobile-payments company, has been a fast-growth industry disruptor. From its humble beginnings when it offered a simple way for small vendors to accept credit cards, SQ has now become one of the biggest financial technology (fintech) companies in the world. And the SQ stock price since 2015 has reflected this growth.Source: Shutterstock However, Square stock is off its recent highs, as the shares got penalized following its second-quarter earnings report in August. The current economic and political environment in the U.S. and globally poses plenty of questions for market participants.And the owners of Square stock may have to reset their growth and share price expectations. If Square's revenue growth decelerates, then the price of SQ stock will also go down further. In the coming weeks, I'd be a buyer below $60, especially if it approaches $50.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHere's what investors should know before buying into SQ stock. How Square's Q2 Earnings CameSquare reported earnings on August 1 after market close. Notably, the payment-solutions company posted better-than-expected earnings and revenues. Its revenue increased 44% year-over-year to $1.17 billion. * 10 Marijuana Stocks to Ride High on the Farm Bill And on an adjusted basis, earnings were 21 cents per share, beating Wall Street's expectation of 17 cents per share.Square's subscription and services-based revenue also increased 87% to $251 million. This growth has been driven by its Cash App, Square Capital, and Instant Deposit. Analysts were especially impressed with the Cash App whose quarterly revenue came at $135 million.The quarterly report once again confirmed that Square stock is a high-growth equity. Such shares in general are far more volatile than market indices or mature companies. Whenever investors feel growth expectations need to be toned down, they sell the stock first and ask questions later.Investors were especially concerned by the company's lower-than-expected Q3 guidance. Square management projected higher-than-expected losses on the bottom line. And many shareholders have likely felt that for the rest of the year, SQ stock may face a rising tide.On earnings day, Square stock closed at $80.98. The next morning, SQ shares gapped down to open at $70.80. Now the shares are hovering around $64. Square Is Not Yet ProfitableSquare was co-founded in February 2009 by Jack Dorsey, who is also the CEO of Twitter (NYSE:TWTR). This innovative financial services company has expanded quickly, with its unique dongles for mobile phones that enable virtually everyone to accept credit-card payments.The global payments industry is a $100 trillion-plus market. While SQ currently enjoys a head start in serving small businesses, Wall Street has questions about whether it can maintain that growth. If the U.S. economy slows, Square's growth may start to decelerate rather quickly.Furthermore, Square is not yet profitable. Its net loss was $7 million in Q2, compared to a net loss of $6 million in the year-ago quarter. The company has reported net losses in five of the last six quarters.Efforts to attain profitability are taking time. Moreover, not every area Square expands into will necessarily produce easy profits. And unless it increases its revenue, Wall Street may take down the high valuation of SQ stock.For example, during the earnings release, Square announced the surprising sale of its Caviar foodservice platform to DoorDash. Some believe this exit is premature, considering the evenue potential. On the other hand, others believe that this sale enables Square to leave a low-margin business where competition is fierce.Square is now able to partner with DoorDash which has a much larger platform. In other words, it can further integrate its payment processing system to other foodservice platforms. Nonetheless, analysts agree that the surprise factor Caviar's sale has raised eyebrows.Finally, the expansion of Square's ecosystem also means that SQ will face increased competition. Square must now compete with many well-capitalized companies, including the global online-payments company PayPal (NASDAQ:PYPL), transaction-processing leader Visa (NYSE:V) and Fiserv (NASDAQ:FISV), which is shaping up to become a global- payments giant. Technical Charts for SQ Stock Paint a Mixed PictureLet us briefly remember how the Square stock price has acted over the years.Following the initial public offering of Square stock in late 2015, its price surged from $9 to an all-time high of $101.15 in October 2018, as the company became a darling of long-term investors.SQ stock went on a big tear during the summer of 2018, baking in plenty of euphoria. As a result, shares have been weak since reaching its all-time high on Oct. 1, 2018. By late-December 2018, SQ was hovering around $50.In 2019, although SQ stock is up about 15%, August has not been a good month for shares. That's of course due to the weak Q3 guidance.From a technical perspective, I'm not expecting Square stock to make another significant leg up any time soon. In the next few weeks, shares are likely to be rangebound between $60 and $70.Further, SQ stock has strong support between $60 and $65. However, if any negative headlines flash that affect the technology sector or the fintech sector specifically, then shares may easily go below $60.Plus, the daily volatility of Square stock is high, giving it a broad trading range, so short-term traders should proceed with caution. Expect SQ to be choppy at best in the near-term.Square stock will need to stabilize and build a base again before a long-term sustained leg up can occur. Consequently, investors need to be careful about chasing shares at this point. The Bottom Line on Square StockThe fintech app revolution is quickly changing the way traditional banks, credit-card issuers and mobile-payments companies work with businesses as well as with their retail customers. Therefore, over the long term, I would not bet against SQ stock. In the short-term, though, stakeholders shouldn't expect smooth sailing.At the time of writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Can Square Stock Keep Up Its Growth Momentum? appeared first on InvestorPlace.
Apple's new credit card doesn't spell trouble for established networks like Visa but could make Apple's digital wallet a stronger rival to PayPal's Venmo and Square Cash, one analyst says.
A revenue miss was the last thing investors expected when PayPal delivered its second-quarter results in July. The stock has since bounced back.
Synchrony Financial's (SYF) interest income and strategic initiatives should aid revenue growth. This will likely boost its share price further.
(Bloomberg) -- JPMorgan Chase & Co. is planning to shut down its Chase Pay app in the bank’s third reversal on digital offerings in three months.The company started informing customers Wednesday that they’ll no longer be able to use the product to pay with their smartphones when shopping in stores starting early next year, according to an email seen by Bloomberg. They’ll still be able to use Chase Pay on the websites and apps of retailers that accept it.It’s an about-face on a product introduced four years ago to compete with rivals such as Apple Inc. that are working to transform how consumers pay for products and services. New technologies have spurred a revolution in mobile payments, with Chinese companies leading the way in helping consumers bypass credit and debit cards. The U.S. market has been slower to develop.“When we started this, it was four years ago -- the payment space has changed a lot over the period of time and customer behavior has changed,” Eric Connolly, head of Chase Pay, said in an interview. “A lot of merchants have shifted to ‘buy online, pick up in store’ and have invested in their online presence and their apps.”The bank says it wants to capture a larger share of a market long dominated by PayPal Holdings Inc., whose digital wallet was accepted by about 70% of online merchants at the end of the second quarter. Fewer than 1% accepted JPMorgan’s, according to a study by industry publication PYMNTS.com.Pablo Rodriguez, a JPMorgan spokesman, declined to say how many online retailers currently accept Chase Pay, adding that the bank expects that number to increase. In a statement on Wednesday, the company said that GrubHub Inc. will soon accept it.Shares of the bank, which have climbed 11% this year, advanced 0.8% to $108.16 at 9:33 a.m. in New York.Finn, On DeckJPMorgan has shown a greater willingness than rivals to cut bait on unsuccessful projects as it spends more than $11 billion on technology initiatives designed in part to position the bank to stay ahead of changes in how consumers spend money.Some of the bank’s other digital experiments have failed to take hold. In June, it shut down digital bank Finn a year after rolling out the brand nationally. A month later, it cut ties with fintech company On Deck, whose technology platform it had used to originate online small-business loans.JPMorgan has been testing other technologies to lure consumers to spend more on its cards. It has been adding tap-to-pay technology to its cards and joined with Cardlytics Inc. to offer coupons for select merchants inside its mobile app. In February, it unveiled a prototype cryptocurrency, dubbed JPM Coin, that it plans to use to speed up payments between companies.(Updates with JPMorgan’s digital experiments starting in seventh paragraph.)To contact the reporters on this story: Michelle F. Davis in New York at firstname.lastname@example.org;Jenny Surane in New York at email@example.comTo contact the editors responsible for this story: Michael J. Moore at firstname.lastname@example.org, Steve Dickson, Daniel TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Tala, a Santa Monica, Calif.-headquartered startup that creates a credit profile to provide uncollateralized loans to millions of people in emerging markets, has raised $110 million in a new financing round to enter India's burgeoning fintech space. The Series D financing for the five-year-old startup was led by RPS Ventures, with GGV Capital and previous investors IVP, Revolution Growth, Lowercase Capital, Data Collective VC, ThomVest Ventures and PayPal Ventures also participating in the round. The new round, which takes the startup’s total fundraising to more than $215 million, valued it above $750 million, a person familiar with the matter told TechCrunch.
Square Inc. continues to gain steam with its consumer-facing Cash App. The company saw its highest-ever volume of Cash App downloads in July, according to Instinet analyst Dan Dolev, with 2.4 million users adding the app. The Cash App lets consumers send money to friends and spend their funds through an associated debit card.
Square Inc (NYSE: SQ ) and Paypal Holdings Inc (NASDAQ: PYPL ) are two of the clear leaders in the high-growth digital payments space. However, one stock might be a safer bet given their relative valuations. ...
Banking on growing revenues, strategic capital management and high card sales volume, Discover Financial (DFS) holds potential to benefit investors.
Euronet Worldwide (EEFT) assists the Commercial Bank of Ceylon to launch the first unique Quick Response (QR)-based payment application in Sri Lanka.
Technological advances are disrupting plenty of industries. And if ever there was an industry ripe for disruption, it is financial services. Enter financial technology, or "fintech." Along with healthcare innovation, fintech is arguably the most disruptive of the emerging themes encroaching on old school industries.A basic definition of fintech is computer programs or other technological components intersecting with old guard financial services, such as banking, lending and credit cards, but there's more to it."Today, fintech companies directly compete with banks in most areas of the financial sector to sell financial services and solutions to customers," according to Fintech Weekly. "Mostly due to regulatory reasons and their internal structures, banks still struggle to keep up with fintech startups in terms of innovation speed. Fintechs have realized early that financial services of all kinds -- including money transfer, lending, investing, payments, … -- need to seamlessly integrate in the lives of the tech-savvy and sophisticated customers of today to stay relevant in a world where business and private life become increasingly digitalized."InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn other words, when you buy a fintech exchange-traded fund, there's a better chance you'll be embracing stocks such as PayPal (NASDAQ:PYPL) and Square (NYSE:SQ) then you would be traditional banks like JPMorgan Chase (NYSE:JPM). * 10 Cheap Dividend Stocks to Load Up On With that in mind, here are some of the best fintech ETFs to consider. Global X FinTech ETF (FINX)Expense ratio: 0.68%, or $68 annually per $10,000 invested.Just a few weeks shy of its third birthday, the Global X FinTech ETF (NASDAQ:FINX) has rapidly become one of the kings of the fintech ETF universe. Home to nearly $414 million in assets under management, FINX tracks the Indxx Global FinTech Thematic Index.This fintech ETF's components come from industries including insurance, investing, fundraising and third-party lending. The financial services sector is usually thought of as a value destination, but that is not the case with fintech ETFs. FINX trades at a price-to-earnings ratio of 33.However, FINX warrants that rich multiple because it's up just under 30% year-to-date, which is more than double the returns of the S&P 500 Financial Services Index. Importantly, there are significant growth tailwinds bolstering the long-term case for this fintech ETF."Currently, FinTech represents just 6%, or approximately $675 billion, of the total global estimated annual revenue for the financial services industry," Global X said in a recent note. "In addition, a recent Global X survey of consumer adoption of disruptive technologies revealed that just 11% of consumers indicated that they use mobile wallets on at least a weekly basis, compared to 84% use of credit cards." ARK Fintech Innovation ETF (ARKF)Expense ratio: 0.75%ARK Investment Management offers a focused lineup of actively managed ETFs (and some passive funds) that address high-growth market segments and many of the firm's products, though pricey, are among the best performers in their respective categories. The ARK Fintech Innovation ETF (NYSEARCA:ARKF), which launched in February, could be on its way to joining its stablemates as a star fund.One of the newest fintech ETFs, ARK already has $71 million in assets under management and it has been a decent performer until recently. With riskier assets being taken to task, this fintech ETF has dropped by over 6% in the last month. That could be a buying opportunity, not a reason to stay away. The top 10 holdings in ARKF include Square, Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA).Because it's actively managed, managers can apply more stringent criteria to defining and identifying fintech exposure. * 10 Stocks Under $5 to Buy for Fall "A company is deemed to be engaged in the theme of Fintech innovation if (i) it derives a significant portion of its revenue or market value from the theme of Fintech innovation, or (ii) it has stated its primary business to be in products and services focused on the theme of Fintech innovation," according to ARK's fund description for ARKF. Amplify CrowdBureau Peer-to-Peer Lending & Crowdfunding ETF (LEND)Expense ratio: 0.65%The Amplify CrowdBureau Peer-to-Peer Lending & Crowdfunding ETF (NYSEARCA:LEND) is another new addition to the fintech ETF fray, having debuted in May. As its name implies, this fintech ETF emphasizes crowdfunding, an expansive and growing segment of the fintech space."Crowdfunding is an umbrella term generally referring to the financing method, typically internet-based, by which capital is raised through the solicitation of small individual investments or contributions from a large number of persons, entities or institutions that lend money directly or indirectly to businesses or consumers," according to Amplify ETFs.LEND has recently struggled because of its hefty weight in China (45% of the fintech ETF's weight). That's a double-edged sword because China is home to its own rapidly growing, high-potential fintech market. Another thing to note with LEND is that it's a concentrated fintech ETF. The fund has 33 holdings, but just three combine for over half the fund's weight. ETFMG Prime Mobile Payments ETF (IPAY)Expense ratio: 0.75%The ETFMG Prime Mobile Payments ETF (NYSEARCA:IPAY) is the oldest of the fintech ETFs on the market today and the fund is aging nicely as highlighted by a year-to-date gain of more than 39%. Investors are taking note. IPAY now has nearly $830 million in assets under management thanks to year-to-date inflows of $361.1 million. IPAY holds 39 stocks and tracks the Prime Mobile Payments Index."The index provides a benchmark for investors interested in tracking the mobile and electronic payments industry, specifically focusing on credit card networks, payment infrastructure and software services, payment processing services, and payment solutions (such as smartcards, prepaid cards, virtual wallets)," according to ETFMG. * 15 Growth Stocks to Buy for the Long Haul IPAY is a fintech ETF that's approachable to a broad swath of investors because not only does the fund feature growth stocks, it has some large-cap value exposure via names like Dow Jones Industrial Average components American Express (NYSE:AXP) and Visa (NYSE:V). Innovation Shares NextGen Protocol ETF (KOIN)Expense ratio: 0.95%Blockchain technology is one of the bedrocks of the fintech movement and the Innovation Shares NextGen Protocol ETF (NYSEARCA:KOIN), though not a dedicated fintech ETF, is one of the more compelling blockchain funds on the market."… KOIN seeks to give investors access to companies that may benefit from a technology that has the potential to revolutionize the way global trade is conducted, data is secured, supply chains are managed, financial instruments are cleared and contracts are recorded," Innovation Shares says in KOIN's fund description.There is an element of cryptocurrency with KOIN as the fund features exposure to companies that accept digital coins as payments as well as firms that make the tools and hardware to mine assets such as bitcoin. KOIN's other categories are solutions providers (blockchain services providers) and adopters.KOIN's top 10 holdings including Nvidia, Visa and Mastercard (NYSE:MA). Global X Millennials Thematic ETF (MILN)Expense ratio: 0.5%The Global X Millennials Thematic ETF (NASDAQ:MILN) doesn't jump off the screen and scream "fintech ETF," but this demographically focused fund is in the fintech space, particularly because millennials are driving adoption of mobile payments and other elements of a cash-free society."Millennials' adoption of technology has penetrated their finances," Global X's Pedro Palandrani wrote. "Their mobile devices have become their credit card, their wallet, and their overall bank. Take Venmo, PayPal's mobile payment service, which is a platform that has struck a chord with Millennials by allowing them to digitally send money and make purchases. 75% of Millennials have used online or mobile payments compared to only 51% for Boomers." * 7 Safe Dividend Stocks for Investors to Buy Right Now The fund holds 81 stocks of which about five can be considered dedicated fintech plays. Another 10 or so can be viewed as secondary fintech names. SoFi Gig Economy ETF (GIGE)Expense ratio: 0.59%The SoFi Gig Economy ETF (NASDAQ:GIGE) is another actively managed fund with fintech exposure and a newer one at that, having debuted in May like LEND."… the Gig Economy reflects a transformational change in how many businesses interact with customers, and the Gig Economy theme provides exposure to a trend or developing business model through the compilation of securities from multiple sectors and geographies," wrote ETF Trends's Max Chen.Obviously, GIGE is not a dedicated fintech ETF. But because it is exposed to the gig economy's consumption end, the fund features exposure to the payment end as well. This translates to some fintech leverage.About half a dozen of GIGE's holdings are dedicated fintech names and roughly the same amount are larger companies with some form of mobile payment or mobile wallet business. While GIGE has struggled this month (down almost 7%), there is long-term value in the fund's mix of fintech and online retail names.As of this writing, Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure appeared first on InvestorPlace.
Investors have dumped shares of Square (NYSE:SQ) since the last earnings report. And it's only going to get worse. SQ stock is in a sharp downward trend that shows no sign of letting up. All told, there's a good case for Square stock heading back to the lows around $50 a share.Source: Shutterstock The company's last earnings report was far from good. The company offered specific developments, such as the sale of Caviar to Doordash for modest consideration that really hurt Square's long-term growth narrative. And there's a lot more to be nervous about with SQ stock right now. Let's dive into the reasons why SQ stock is still a sell right now. Is Cash App Really Doing That Great?Cash App pulled in $260 million in revenue in last quarter with a rapid growth rate. At first blush, that sounds fantastic. But there's less here than meets the eye.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Major Headlines Mean Opportunities for Smart Investors For one thing, right around half of that revenue came from Bitcoin transactions. Get rid of that, and Cash App's revenues are down to $135 million for the quarter. Who knows where Bitcoin and crypto will go from here. Maybe the recent recovery is real. Maybe not. Anyone that bet on bitcoin or crypto stocks in late 2017 got clobbered the next year. Don't bet the farm on SQ stock hoping Bitcoin revenues continue to surge.Meanwhile, the more durable main source of Cash App revenue appears to be its instant deposit feature. This, like Paypal (NASDAQ:PYPL), allows vendors to access their cash instantly for a small fee. However, this is quite uneconomic for larger users and thus is unlikely to be a major revenue growth stream forever. Also, the Fed's new real-time payment system may reduce the need for Square's service here. A Bank License May Not Be So GreatThere's also the matter that Square is still trying to get a banking license. It was previously unsuccessful but has made another attempt at regulatory approval.SQ stock bulls point to a banking license as a major catalyst that could shoot the stock back up toward last year's highs. In theory, Square as a bank could add a lot of value for its customers.But taking on the role of a bank adds a lot of headaches and red tape as well. You have to worry about compliance, capital reserves, and all the other stresses of post-financial crisis era banking. In addition, customers that currently pay for services such as instant deposit are going to expect a lower fee experience if they bank with Square as well.On top of all that, are the people bullish on Square as a bank looking at the same financial markets that the rest of us are?The big banking shares like Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC) are performing quite poorly in the market this year. Goldman Sachs, in particular, with all its customer-focused new innovations such as the Apple Card is getting no respect at all. If the market is petrified of interest rates and recession risk for banks, why is it going to give Square stock huge credit for entering this out-of-favor industry? Square Stock Is Really ExpensiveA big issue for SQ stock going forward is that the company still makes hardly any money. In the past, this was easier to explain because the company was purportedly investing heavily in loss-making growth operations like Caviar that would pay off in spades later. But Caviar didn't. And with Square shedding its money-losing operations, in theory, it should look a lot more profitable going forward.And yet, it's not. Adjusted EBITDA is likely to come in around $400 million for this year. Given Square's market cap, this means investors are paying in the neighborhood of 70x EBITDA for this business. That's absolutely absurd. You can justify 20 or 25x for a fast-growing tech company with good cash flows. Square isn't that fast-growing, especially without Caviar, and its operational profile isn't that amazing either.In fact, Square should probably trade at a discount to tech peers due to the credit exposure and recession risk (since its client base is primarily smaller businesses). Instead, the market is pricing SQ stock as though it were as good as the hottest of the cloud software companies. Unless Square's business performs exceptionally well going forward, people are going to get burned here in a major way. SQ Stock VerdictI know Square stock is down a lot, and you might want to buy the dip. But there are better tech plays at this time. SQ stock was profoundly overvalued before; a 25% drop has hardly fixed the valuation issue. In addition to the above concerns, consider analyst sentiment. * 10 Mid-Cap Dividend Stocks to Buy Now You have various analysts with hold ratings or tepid sorts of recommendations for SQ stock with price targets in the $80s or higher. With the stock now under $65, analysts will need to lower their targets, particularly with growth avenues such as Caviar disappearing. I wouldn't be surprised if analyst downgrades and price targets help push Square stock back down to 52-week lows around the $50 mark.At the time of this writing, Ian Bezek owned GS and WFC stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Things Will Keep Getting Worse For Square Stock appeared first on InvestorPlace.
Looking for stocks to buy? Get analysis of large-cap stocks like Amazon, Alibaba and Dow Jones stocks GE and Microsoft to see if it's time to buy — or sell.