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Fintech's New Year Playbook: Kaspi, Affirm, Shopify Set The Tone For 2025

Fintech's New Year Playbook: Kaspi, Affirm, Shopify Set The Tone For 2025

金融科技的新年计划手册:Kaspi、Affirm、shopify为2025设定基调
Benzinga ·  2024/12/02 13:26

The year 2024 may have started slow for fintech stocks, but the sector flipped the script in the second half.

2024年初,金融科技股票的表现可能较为缓慢,但该板块在下半年翻转了局势。

JPMorgan's Reginald L. Smith points to a $65 billion leap in the sector's market cap since mid-September, driven by upbeat third-quarter results, rate cuts and post-election tailwinds.

摩根大通的Reginald L. Smith指出,自9月中旬以来,该板块的市值跃升了650亿美元,得益于乐观的第三季度业绩、降息和选后市场利好。

As 2025 beckons, Smith envisions improving funding conditions and loan volumes lifting fintech lenders — but advises caution on current valuations ahead of the fourth quarter earnings cycle.

随着2025年的到来,Smith预见融资条件和贷款量的改善将推动金融科技贷款机构的发展,但在第四季度盈利周期之前,建议对当前估值保持谨慎。

Among the standouts are three fintech players rewriting the rulebook: Kaspi, Affirm and Shopify.

在众多突出公司中,有三家金融科技企业正在重新定义规则:Kaspi、Affirm和shopify。

Kaspi's Big Leap: 25% Potential Upside, Says Analyst

Kaspi的重大跃进:分析师表示有25%的潜在上涨空间

Kaspi.kz JSC (NASDAQ:KSPI) isn't just a fintech favorite — it's redefining growth in the space. With a pending majority acquisition of Turkey's Hepsiburada, Smith notes Kaspi is tackling single-country exposure concerns head-on while expanding its total addressable market.

Kaspi.kz JSC (纳斯达克:KSPI) 不仅仅是金融科技的宠儿——它正在重新定义该领域的增长。Smith指出,通过待完成的对土耳其Hepsiburada的控股收购,Kaspi正积极应对单一国家曝光的担忧,同时扩大其可寻址市场。

At just 8x 2025 earnings, Kaspi's robust fundamentals (30%+ revenue growth, 40%+ net income margins) note it is undervalued. The stock has a $137 price target, offering a potential 25% upside.

Kaspi的2025年盈利仅为8倍,其稳健的基本面(营业收入增长30%以上,净利润率超过40%)表明其被低估。该股票的目标价格是137美元,提供25%的潜在上涨空间。

Read Also: Future Of Investing: AI Is 'Starting To Empower Consumers'

另请阅读:投资的未来:人工智能正“开始赋能消费者”

Affirm's BNPL Domination: 12% Projected Upside

Affirm的BNPL主导地位:12%的预期上涨

Affirm Holdings Inc (NASDAQ:AFRM) continues to capitalize on the Buy Now, Pay Later (BNPL) trend, turning its partnerships with Amazon.com Inc (NASDAQ:AMZN), Apple Inc (NASDAQ:AAPL) Pay, and Shopify Inc (NYSE:SHOP) into long-term growth levers.

Affirm Holdings Inc (纳斯达克:AFRM) 继续利用先买后付(BNPL)的趋势,将其与亚马逊(纳斯达克:AMZN)、苹果公司(纳斯达克:AAPL)Pay和shopify(纽交所:SHOP)的合作关系转化为长期增长杠杆。

Smith highlights Affirm's strong credit metrics and reliable funding channels as key differentiators, with the company targeting profitability by FY25. With a $74 price target and 12% upside, Affirm remains a contender for fintech investors.

史密斯强调Affirm强劲的信用指标和可靠的资金渠道是关键的差异化因素,该公司目标是在2025财年实现盈利。以74美元的目标价和12%的上涨空间,Affirm仍然是金融科技投资者的竞争者。

Shopify's Subtle Brilliance With 8% Upside

shopify的微妙辉煌与8%的上涨

Shopify might not have the flashiest story, but its numbers tell a winning tale. Growing GMV (gross merchandise value) by $50 billion annually and revenue by $1.6 billion, Shopify is matching its COVID-19 pandemic-era performance while doubling its free cash flow margin.

shopify可能没有最耀眼的故事,但它的数据讲述了一个成功的故事。商品总价值(GMV)每年增长500亿美元,营业收入增长16亿美元,shopify正在匹配其COVID-19大流行时期的表现,同时使其自由现金流利润率翻倍。

Smith believes international growth and further upmarket penetration can keep Shopify on its 20% growth trajectory, even as subscription price increases loom as a future safety net. The $121 price target implies an 8% upside.

史密斯认为国际增长和进一步的市场渗透可以保持shopify 20%的增长轨迹,即使订阅价格上涨也将成为未来的安全网。121美元的目标价意味着有8%的上涨空间。

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Photo: PopTika via Shutterstock

照片:PopTika via shutterstock

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