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Best Fintech Stocks to Buy Now

The term “fintech” stocks can refer to any company that integrates technology into some kind of financial service. Because the definition is so broad, it can mean anything from robo-advisors to online exchanges to payment processors.

Nevertheless, technology and finance are two sectors that are likely to continue their upward trajectory. Thus, the marriage of those two sectors leaves us with strong investment possibilities in a space that is still emerging.

If you are looking to capitalize on the growth potential of fintech’s, below are some of the best fintech stocks to consider buying.

Fintech stocks to buy now.

Best Fintech Stocks

Since you landed here, you already have some interest in fintech stocks. With that, let’s take a closer look at five of the best fintech stocks to buy.

No. 5 PayPal

Established in 1998 originally as Confinity, PayPal (Nasdaq: PYPL) was the original online payment processor. Its three co-founders included now-billionaire Peter Thiel and its business model initially involved developing security software for handheld devices. The company’s electronic payments system launched in 1999. That’s when we first saw the name PayPal. Since then, PayPal has become a Fortune 500 company with a ranking that puts it close to the top 100 by total revenue.

PayPal has done well as a company. But what about its stock? PYPL has a market cap of nearly $225 billion with a P/E ratio of 45.93 and an earnings per share (EPS) of 4.16. Its share price was under $90 in 2020 before soaring to over $300 in the summer of 2021. It has since cooled but remains more than double what it was in 2020. In addition, analysts consider this fintech stock a strong buy with a median price target nearly 50% higher than its current price.

No. 4 Block, Inc.

Square, which recently rebranded to Block (NYSE: SQ), is the company known for its square-shaped readers that magically turn devices like iPhones and iPads into fully functioning POS systems. One of the keys to the company’s success has undoubtedly been the fact that its card readers are free. It makes money via card processing fees and by selling items like its Square Stand and Square chip reader. As an online payment processor, Square has reaped the benefits of the increase in spending seen during the economic recovery.

Block has a market cap of over $77 billion. It does have a relatively high P/E ratio of 190 with an EPS of 1.00. Still, its share price is approximately five times what it was in mid-March, 2020. Analysts also consider this stock a strong buy with price targets around 50% of its current price. However, it’s worth noting that in the company’s most recent quarter, it posted a net income of just $84k. Nevertheless, its year-over-year (YOY) revenue was up nearly 27% with revenues of $3.84 billion, making it a great addition to your list of fintech stocks to buy. 

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About

Bob Haegele is a personal finance writer who specializes in investing and planning for retirement. His hefty student loan burden inspired him to pay off his loans, and now he’s helping others get their finances in order. When he’s not writing, he enjoys travel and live music.

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