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Affirm Holdings, Inc. AFRM recently announced that its payment services are now available to Apple Pay users in the United States on the iPhone and iPad. Investors have been eagerly waiting for this news since June. This integration will allow eligible U.S. users to split their purchases into biweekly or monthly payments, leveraging Affirm's buy now, pay later (BNPL) services.
This move provides Apple Pay users the ability to check out online or in-app with flexible payment plans, including 0% APR options for some purchases. Affirm's services will initially be available to users with devices running iOS 18 and iPadOS 18 or later. The move enhances AFRM's reach by offering flexibility while maintaining the security and privacy features of Apple Pay.
The rollout of its partnership with Apple, done in a controlled manner to reduce risks, is expected to boost AFRM’s addressable market size. Impacts on its profits from this move are expected to be gradual.
The BNPL sector is experiencing rapid growth, and Affirm is quickly expanding its market share to capitalize on this trend. It has already crossed the 300,000 active merchant milestone and is expected to continue the momentum in the coming days.
Unlocking the repeat customer transaction barrier is expected to drive Affirm's transaction growth, helping it meet its goals. Affirm aims to achieve profitability in operating income on a GAAP basis by the fourth quarter of fiscal 2025, with transaction momentum playing a key role in reaching this target. It expects a GMV of more than $33.5 billion in fiscal 2025, up from $26.6 billion in fiscal 2024. The adjusted operating margin is estimated to be higher than 18.4%, up from 16% in fiscal 2024.
AFRM’s Stock Price Performance
AFRM shares have rallied 44.3% in the past three months, outperforming the industry average of 7.6%.
Affirm’s Zacks Rank & Other Key Picks
AFRM currently has a Zacks Rank #2 (Buy). Investors can look at some other top-ranked stocks from the broader Business Services space like Fidelity National Information Services, Inc. FIS, Paysign, Inc. PAYS and Remitly Global, Inc. RELY.While Fidelity National currently sports a Zacks Rank #1 (Strong Buy), Paysign and Remitly Global each carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Fidelity National’s current-year earnings indicates a 50.7% year-over-year jump. FIS beat earnings estimates in two of the trailing four quarters and missed twice. The consensus estimate for current-year revenues is pegged at $10.2 billion.
The Zacks Consensus Estimate for Paysign’s current-year bottom line indicates 75% year-over-year growth. The consensus estimate for PAYS’ current-year top line is pegged at $58 million, suggesting 22.6% year-over-year growth.
The Zacks Consensus Estimate for Remitly Global’s current-year earnings indicates a 53.9% year-over-year improvement. RELY beat earnings estimates in two of the trailing four quarters and missed twice, with an average surprise of 8%. The consensus estimate for current-year revenues calls for 31.8% year-over-year growth.
Zacks Investment Research
Mastercard Incorporated MA recently agreed to acquire Recorded Future, a leading global threat intelligence company, for $2.65 billion. This acquisition is aimed at enhancing Mastercard's cybersecurity capabilities to protect the payments system and provide a more comprehensive cyber defense for its clients.
By integrating Recorded Future’s AI-powered threat intelligence and analytics, Mastercard plans to strengthen its ability to prevent cyber threats, fraud and data breaches, both in payments and across other digital environments. MA is acquiring the company from private equity firm Insight Partners, and the deal is expected to close by the first quarter of next year. Insight Partners grabbed a controlling stake in the acquiree in 2019 through an all-cash transaction that valued it at over $780 million.
Why MA Chose Recorded Future?
The acquisition not only strengthens Mastercard's cybersecurity foothold but also aligns with its strategy to build trust and resilience in digital transactions, making it a valuable addition to its existing services. Recorded Future serves more than 1,900 clients across 75 countries. Its client base includes government organizations in 45 countries and more than 50% of businesses in the Fortune 100. This extensive reach demonstrates its significant influence and presence in the global cybersecurity market.
For Mastercard, this strengthened security can attract more clients and deepen relationships with existing customers, potentially increasing revenues. Additionally, the acquisition can open new revenue streams in cybersecurity services and provide opportunities for product innovation, which can further drive growth and profitability for Mastercard.
Exciting Numbers Ahead for MA?
The demand for Mastercard’s service offerings, like cybersecurity and data analytics, surged during COVID-19, providing revenue diversification benefits. Revenues from Value-Added Services grew 17.7% in 2023 and 16.7% in the first half of 2024. The added capabilities from the Recorded Future acquisition will further boost these numbers. MA expects cybercrime to cost $9.2 trillion globally this year alone.
MA's Price Performance
Shares of Mastercard have gained 18.3% in the past year compared with the industry’s 15.8% growth.
Zacks Rank & Key Picks
Mastercard currently carries a Zacks Rank #3 (Hold).
Investors can look at some better-ranked stocks from the broader Business Services space like Fidelity National Information Services, Inc. FIS, Paysign, Inc. PAYS and Remitly Global, Inc. RELY, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Fidelity National’s current-year earnings indicates a 50.7% year-over-year jump. FIS beat earnings estimates in two of the trailing four quarters and missed twice. The consensus estimate for current-year revenues is pegged at $10.2 billion.
The Zacks Consensus Estimate for Paysign’s current-year bottom line indicates 75% year-over-year growth. The consensus estimate for PAYS’ current-year top line is pegged at $58 million, suggesting 22.6% year-over-year growth.
The Zacks Consensus Estimate for Remitly Global’s current-year earnings indicates a 53.9% year-over-year improvement. RELY beat earnings estimates in two of the trailing four quarters and missed twice, with an average surprise of 8%. The consensus estimate for current-year revenues suggests 31.8% year-over-year growth.
Zacks Investment Research
Visa Inc. V is working to significantly expand digital payment usage and financial inclusion in Pakistan. It intends to bolster the number of businesses that accept digital payments by 10 times over the next three years, per Reuters.
To support this ambitious goal, Visa partnered with 1Link, a major payment service provider in the country. This partnership is expected to improve the ease of digital transactions, including remittances, and broaden acceptance options for smaller merchants across the country.
The partnership will likely make sending and receiving remittances in Pakistan more efficient and secure. This is crucial for Pakistan, as remittances from overseas Pakistanis are a major source of foreign exchange. It also plays a major role in the country's economy. The partnership will help streamline these transactions and encourage the use of legal channels for remittances.
The scope for Visa in Pakistan is substantial, given the country's large unbanked population and growing need for digital payment solutions. Of the 137 million adult population in the country, only 60% have a bank account. By increasing the number of businesses that accept digital payments and investing in payment infrastructure, Visa has the opportunity to capture a significant share of the market while aligning with Pakistan's broader push toward digitization.
The news mentions that Pakistan recently signed a $7 billion bailout agreement with the International Monetary Fund (IMF) in July. This deal includes reforms aimed at raising government revenue and formalizing the economy. Digital payments are a key focus of these reforms, as the government aims to increase economic transparency and efficiency through digitization.
The partnership between Visa and 1Link will enable the latter’s PayPak cards, which are Pakistan's local payment cards and a competitor in the digital payments space, to be accepted on V's Cybersource Platform for online transactions.
Visa's Price Performance
Shares of Visa have gained 15.4% in the past year compared with the industry’s 15.9% jump.
Zacks Rank & Key Picks
Visa currently has a Zacks Rank #3 (Hold).
Investors can look at some better-ranked stocks from the broader Business Services space like Fidelity National Information Services, Inc. FIS, Paysign, Inc. PAYS and Remitly Global, Inc. RELY, each carrying a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Fidelity National’s current-year earnings indicates a 50.5% year-over-year jump. FIS beat earnings estimates in two of the trailing four quarters and missed twice. The consensus estimate for current-year revenues is pegged at $10.2 billion.
The Zacks Consensus Estimate for Paysign’s current-year bottom line indicates 75% year-over-year growth. The consensus estimate for PAYS’ current-year top line is pegged at $58 million, suggesting 22.6% year-over-year growth.
The Zacks Consensus Estimate for Remitly Global’s current-year earnings indicates a 53.9% year-over-year improvement. RELY beat earnings estimates in two of the trailing four quarters and missed twice, with an average surprise of 8%. The consensus estimate for current-year revenues suggests 31.8% year-over-year growth.
Zacks Investment Research
SEATTLE, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that its management team will present at the 2024 Goldman Sachs Communacopia + Technology Conference
Date: Wednesday, September 11, 2024
Time: 4:25pm Pacific Time / 7:25pm Eastern Time
The presentation will be webcast live from Remitly’s investor relations website at https://ir.remitly.com/. A replay of the event will be available on the investor relations website following the presentation.
About Remitly
Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 170 countries, Remitly’s digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.
Investor Relations:
Stephen Shulstein
Vice President of Investor Relations
stephens@remitly.com
Press Contact:
Kendall Sadler
Director of Communications
kendall@remitly.com
Source: Remitly Global, Inc.
Reporter Name | Oppenheimer Matthew B. |
Relationship | Chief Executive Officer |
Type | Sell |
Amount | $760,387 |
SEC Filing | Form 4 |
Matthew B. Oppenheimer, CEO and Director of Remitly Global, sold 53,625 shares of Common Stock on August 21 and 22, 2024, for a total sale amount of $760,387. The sales were executed at weighted average prices of $14.18 and $14.17 per share, respectively, under a Rule 10b5-1 trading plan. Following these transactions, Oppenheimer directly owns 4,582,732 shares of Remitly Global.
SEC Filing: Remitly Global, Inc. [ RELY ] - Form 4 - Aug. 23, 2024
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