5 Fintech Stocks to Watch Out Amid Coronavirus Crisis

5 Fintech Stocks to Watch Out Amid Coronavirus Crisis

5 Fintech Stocks to Watch Out Amid Coronavirus Crisis

FinTech – The coronavirus pandemic disrupted supply chains and hampered economic growth. And in order to curb its impact on the economy, the government implemented a stay-at-home order. This has facilitated fintech firms as digital payments are taking precedence over cash purchases amid lockdown.

Moreover, an emerging trend in financial services has been observed with banking, investing, and payment applications gaining popularity.

Factors Propelling Fintech

Per a research by deVere Group, coronavirus drove a massive 72% rise in the use of fintech application in Europe as of Mar 30. In fact, the rise has been constant throughout the globe, even if the figures are not same.

The coronavirus pandemic disrupted supply chains and hampered economic growth. And in order to curb its impact on the economy, the government implemented a stay-at-home order. This has facilitated fintech firms as digital payments are taking precedence over cash purchases amid lockdown.

Moreover, an emerging trend in financial services has been observed with banking, investing, and payment applications gaining popularity.

Factors Propelling Fintech

Per a research by deVere Group, coronavirus drove a massive 72% rise in the use of fintech application in Europe as of Mar 30. In fact, the rise has been constant throughout the globe, even if the figures are not same.

Per the IndustryArc’s market analyst report, demand for FinTech services is estimated to witness an astonishing CAGR of 25% to 30% during the forecast period of 2019 to 2025.

5 Stocks in Focus

Given the sharp increase in the use of fintech amid the global health crisis and economic downturn we have shortlisted five stocks that are poised to grow. The stocks carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.

PayPal Holdings, Inc. PYPL operates as a technology platform and digital payments company. The company’s expected earnings growth rate for the current year is 7.7% compared with the Zacks Internet – Software industry’s projected earnings growth of 2.8%.

Fidelity National Information Services, Inc. FIS operates as a financial services technology company. The company’s expected earnings growth rate for the current year is 1.1% against the Zacks Financial Transaction Services industry’s projected earnings decline of 5.3%.

Global Payments Inc. GPN provides payment technology and software solutions. The company’s expected earnings growth rate for the current year is 1.5% against the Zacks Financial Transaction Services industry’s projected earnings decline of 5.3%.

Square, Inc. SQ provides payment and point-of-sale solutions. The company’s expected earnings growth rate for the current quarter is 18.2% compared with the Zacks Internet – Software industry’s projected earnings growth of 4.4%.

Intuit Inc. INTU provides financial management and compliance products and services. The company’s expected earnings growth rate for the current year is 12.3% against the Zacks Computer – Software industry’s projected earnings growth of 1.9%.

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