Wall Street was cautious this morning as investors await comments from central bank speakers today and tomorrow. Key remarks from Fed Chairman Jerome Powell are slated for Friday. Investors will be tuned in for comments about tapering or timing for interest rate hikes.
Concern hasn’t been holding stocks back, with the Nasdaq and S&P 500 hitting fresh record highs. The Nasdaq and the S&P both logged their fifth straight day of gains yesterday. During that period, the Nasdaq has stacked on 3.6%. The Dow was up for four straight days but was still 0.6% below its record high.
Today’s stock pick features a fintech company that’s been branching out and capitalizing on its versatility. Continue reading to discover what they’ve been up to and why we think this company will be strong and growing for years to come.
Rare 19¢ trade for 5,100%-DO NOT USE.
Penny Trades” are cheap and explosive… Warren Buffett grabbed 46 million of them for 1¢ a pop. Right now, he’s up as much as a rare 4,429% on this trade. But “Penny Trades” aren’t reserved for billionaires like Buffett. Thanks to SEC loophole 30.52, you can play them in your brokerage account. One of these “Penny Trades” shot up 183% in one day… Penny Trades can pay far MORE than stocks… Our readers just saw a 19¢ trade shoot up as much as a rare 5,100%… Here’s the #1 “Penny Trade” for RIGHT NOW. [REVEAL TICKER]
Fortune 500 company Fiserv (FISV) provides digital commerce services, fraud protection, digital banking, credit card processing, electronic billing products, and other products and services. In other words, it’s a one-stop shop for all that a financial institution or merchant needs to manage the flow of money coming in and going out of their business. The fintech company serves businesses, banks, credit unions, other financial institutions, merchants, and corporate clients across the globe.
The company recently reported second-quarter earnings on July 27th, results showing 43% second-quarter growth in revenue year-over-year for the company’s merchant-acceptance unit. That performance comes on top of a near-doubling in payment volume for the company’s key Clover point-of-sale technology.
For the April-through-June quarter, the Brookfield, Wis.-based processing giant “saw a strong recovery in the United States with uneven recovery around the world,” pronounced chief executive Frank Bisignano during a call with equity analysts.
In the key independent software vendor market, where technology companies embed payments capability into releases they’re preparing for vertical markets, Fiserv saw a 122% growth in volume for the quarter compared to the prior year. That was driven by 53 new ISV signings, bringing the number signed for the year so far to 95, Bisignano said. As with many operating statistics, the company did not release absolute figures.
Fiserv’s progress wasn’t confined to small merchants. Carat, a unit the company launched in November to sell coordinated digital payments and related commerce services to large companies looking to serve Covid-wary consumers, racked up gains in the quarter, as well. Bisignano said that ten of the country’s largest convenience-store chains are now using Carat, along with nine of the 10 biggest grocers. All told, the unit has generated $2.5 billion in payment volume so far this year.
In total, the merchant-acceptance division recorded $1.67 billion in revenue for the quarter, bringing its first-half revenue to $3.06 billion, up 22% over the first half of 2020. That was enough to overtake Fiserv’s payments and network segment, which logged $1.43 billion in revenue for the second period, up 7%.
As far as guidance from the company is concerned, Fiserv raised the lower end of its 2021 outlook and now expects revenue growth of 10% to 12%. Adjusted earnings per share are now anticipated in the range of $5.50 to $5.60 compared with the prior guidance of $5.35 and $5.50. This positive outlook adjustment is a solid indicator that the company is seeing greater than expected client base and demand growth.
Wall Street seems optimistic about FISV too. Of 32 polled analysts, 27 rate the stock a Buy, and 5 rate it a Hold. There are no Sell ratings for FISV. A median price target of $141.50 represents a 27.82% increase from its current level.
Where to invest $1,000 right now...
Before you consider buying Fiserv, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not Fiserv.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
TRUE MARKET INSIDERS:
Warning: Move Your Money ASAP
The clock just started on the biggest stock market event in twenty years. And the next couple months could determine who will become extremely wealthy in 2022 – and who won’t. [Full Story…]