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ThecoinrepublicBlog3 Fintech Stocks That Have Huge Growth...
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3 Fintech Stocks That Have Huge Growth Potential in 2023

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Fintech Stocks mean financial stocks, fintech is the technology that is built to upgrade and develop financial services. Analyzing the market capitalization, growth, and potential are some factors that should be regarded before investing in stocks. To simplify this, 3 fintech stocks that are showing huge capabilities are mentioned below:

SOFI Stock 

Sofi Technologies Inc. (NASDAQ:SOFI) is a fintech company that offers various financial products and services such as student loans, mortgages, credit cards, investing, banking, and crypto trading. 

It was founded in 2011 and went public in June 2023 through a merger with a special purpose acquisition company called Social Capital Hedosophia Holdings Corporation (SPAC). SOFI’s stock price is $9.08 as of July 14, 2023, down 0.87 from the previous close. 

3 Fintech Stocks That Have Huge Growth Potential in 2023
Source: Google Finance

It has a market cap of $8.54 Billion and an average volume of 59.73 Million shares. It has a 52-week high of $10.23 and a 52-week low of $4.24. Sofi Technologies stock is affected by various factors like Morgan Stanley downgrading the stock to underweight and lowering its price target to $6.50 citing the valuation, concerns, and regulatory risks. 

Sofi’s CEO reported strong first quarter results in May 2023, beating revenue and earning expectations and raising its full-year guidance. Sofi is also launching new products and features such as an auto loan refinancing service, a credit card reward program, and a robo advisor service.

PayPal Holdings Stock

PayPal Holdings (NASDAQ: PYPL) is a global leader in online payment services, offering various products and solutions for handheld devices, and later merged with X.com, an online financial service company founded by Elon Musk. 

It became a subsidiary of eBay in 2002 and spun off an independent company in 2015. It operates in more than 200 markets and supports 25 currencies. It has over 400 Million active accounts including 31 Million merchant accounts. 

3 Fintech Stocks That Have Huge Growth Potential in 2023
Source: Google Finance

It offers various payment solutions such as Paypal, Paypal Credit, Braintree, Venmo, Honey, etc. It enables digital and mobile payments on various platforms like websites, apps, social media, and messaging. It reported revenue of $27.52 Billion and net income of $2.42 Billion for the year 2022. It has a market cap of $80.44 Billion.

SQ Stock 

Block Inc. (NYSE: SQ) formally known as Square inc. is a fintech company that provides payment processing, point of sale, and financial software solutions for businesses and individuals. It was founded by Jack Dorsey and Jim Mckelvey in February 2009. 

3 Fintech Stocks That Have Huge Growth Potential in 2023
Source: Google Finance

The Block stock price is $75.46. It has a market cap of $45.86 Billion and an average volume of 9.39 Million shares. It has a 52-week high of $93.19 and a 52-week low of $51.34. 

Block changed its name from Square which shows its broader range of products and services beyond payments. Block reported strong first-quarter results in May 2023, beating the revenue and earnings estimated and raising its full-year guidance.

Block launched new products and features such as a credit card for business, a robo advisor service, and an auto investing feature for Bitcoin. Block is facing competition from other fintech players such as PayPal, Shopify, and Stripe. Block is affected by the volatility of Bitcoin, which accounts for a significant portion of its revenue.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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