10 Best Cash App Stocks to Invest In

In this article, nosotros hash out the 10 best greenbacks app stocks to invest in. If you lot want to skip our detailed analysis of these stocks, go directly to the


five Best Cash App Stocks to Invest In

.

The COVID-nineteen pandemic has marked a pivotal moment in the payments industry as information technology has played a significant role in accelerating consumer adoption of digital and contactless payment options. Fintech and payment processing companies like Foursquare, Inc. (NYSE: SQ), Sea Limited (NYSE: SE), and PayPal Holdings, Inc. (NASDAQ: PYPL) are reaping the benefits from the strong consumer spending activities as the economy slowly re-opens in the postal service-pandemic era. These three cash app and fintech stocks take climbed sixteen%, 15%, and eleven%, respectively, in the last three months.

The fintech sector was worth $128 billion in 2018, and the innovative manufacture is anticipated to reach $310 billion past 2022, growing at a compound annual rate of 24.eight percent, based on a market place

analysis

published past The Business Enquiry Company. To gain a portion of the fintech sector, tech giants such as Alphabet Inc. (NASDAQ: GOOGL) and Apple Inc. (NASDAQ: AAPL) are expanding their services by launching financial products and services. Alphabet Inc. (NASDAQ: GOOGL) is entering the Japanese fintech sector past purchasing Pring, a Tokyo-based cashless payment startup, for approximately $180 and $270 meg, as

reported

by Nikkei. Alphabet Inc. (NASDAQ: GOOGL), Google’s parent company, operates the east-wallet platform and online payment service, Google Pay. The digital wallet service was first introduced in 2015 as Android Pay then relaunched as Google Pay in 2018.

Meanwhile,
Apple Inc. (NASDAQ: AAPL) is working with Affirm Holdings, Inc.’s (NASDAQ: AFRM) PayBright to launch a Buy Now, Pay Subsequently (BNPL) service for Apple items in Canada commencement August 11, as mentioned in a Bloomberg report. Ananda Baruah of Loop Capital maintained a Buy rating on Apple tree Inc. (NASDAQ: AAPL) on July 29 and increased the business firm’s price target to $165 per share from $150. Shares of Apple tree Inc. (NASDAQ: AAPL) climbed 15% in the last iii months.

Wall Street analysts are bullish on digital payment solution provider Square, Inc. (NYSE: SQ) equally the fintech visitor announced the $29 billion acquisition of Afterpay, an Australian Purchase Now, Pay Afterward (BNPL) visitor. Shares of Square, Inc. (NYSE: SQ) jumped 7.i% in the final five days. On August three, Canaccord annotator Joseph Vafi maintained a Buy rating on Square, Inc. (NYSE: SQ) and increased the firm’s target to $310 per share from the previous $280, highlighting the Afterpay Express (OTC: AFTPY) acquisition will accelerate Cash App’s buy now, pay later characteristic.

Investing is becoming difficult by the day, even for smart money. The unabridged hedge fund industry is feeling the reverberations of the irresolute fiscal landscape. Its reputation has been tarnished in the concluding decade, during which its hedged returns couldn’t continue up with the unhedged returns of the marketplace indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 pct points since March 2017. Between March 2017 and May 29, 2021, our monthly newsletter’s stock picks returned 206.8%, vs. 91.0% for the SPY. Our stock picks outperformed the market by more than 115 percentage points (
encounter the details here
). Yous can subscribe to our free newsletter on our homepage to receive our stories in your inbox.



Our Methodology

We picked stocks that offering products and services related to money transfers, cash or cashless payments, digital wallets, payment processing, and fintech. The stocks on our list were picked based on their fundamentals and prospects for growth based on central concern characteristics. We also considered analysts’ ratings and hedge fund sentiment while choosing these stocks.


Best Cash App Stocks to Invest In

10. Fiserv, Inc. (
NASDAQ: FISV
)


Number of Hedge Fund Holders: 75

Nosotros start our list of the 10 all-time cash app stocks to invest in with Fiserv, Inc. (NASDAQ: FISV). The Wisconsin-based fintech company provides digital commerce services, digital banking, and credit and debit card processing. Fiserv, Inc. (NASDAQ: FISV) offers over 100 one thousand thousand banking users worldwide digital financial services.

Fiserv, Inc. (NASDAQ: FISV) saw its stock gain ane.five% on July xiii after the New York Fed published its Survey of Consumer Expectations, revealing that consumers expect mean household expenditure to ascension by 5.2% in June. On July 16, Ivan Feinseth of Tigress Financial maintained a Buy rating on Fiserv, Inc. (NASDAQ: FISV) and set a 12-month price target of $148 per share. The fintech firm is well-positioned to capitalize from east-payments and mail service-pandemic operations, according to the analyst.

The visitor has a market cap of $72 billion. In the second quarter of 2021, Fiserv, Inc. (NASDAQ: FISV) reported an EPS of $one.37, chirapsia estimates by $0.09. In the second quarter, the company’due south revenue grew 17% year over yr to $four.05 billion and beating revenue estimates by $141.3 million. The stock has gained ix% in the last twelve months.

At the end of the outset quarter of 2021, 75 hedge funds in the database of Insider Monkey held stakes worth $two.75 billion in Fiserv, Inc. (NASDAQ: FISV), down from 98 in the previous quarter worth $5.18 billion.

Simply like Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Square, Inc. (NYSE: SQ), Bounding main Express (NYSE: SE), and PayPal Holdings, Inc. (NASDAQ: PYPL), Fiserv, Inc. (NASDAQ: FISV) is a good cash app stock to invest in according to market place analysts.

9. Shopify Inc. (
NYSE: Shop
)


Number of Hedge Fund Holders: 91

Shopify Inc. (NYSE: Store) is ranked ninth on the list of the 10 best cash app stocks to invest in, as the Canadian east-commerce platform has evolved into a payments company. In 2013, Shopify Inc. (NYSE: SHOP) debuted Shopify Payments, a payment solution for merchants with a 2.9% and 30 cents fee per transaction on a bones plan.

In the second quarter of 2021, Shopify Payments’ gross payments volume (GPV) grew to $20.iii billion, which deemed for 48% of GMV candy in the quarter, a 45% increase year over year. In the 2nd quarter, the company’s revenue grew 57% year over yr to $1.12 billion and chirapsia acquirement estimates by $69.xv 1000000. Shopify Inc. (NYSE: Shop) reported an EPS of $2.24 in the 2nd quarter, beating estimates by $ane.28.

On July 29, Wedbush analyst Ygal Arounian maintained an Outperform rating on Shopify Inc. (NYSE: Store) and raised the firm’s target to $1,800 per share from $1,650 noting that the company’s due east-commerce gross merchandise volume volition go along to grow. Shares of Shopify Inc. (NYSE: SHOP) climbed 33.two% in the past three months.

Out of the hedge funds existence tracked past Insider Monkey, Hong Kong-based investment firm

Tybourne Capital letter Direction

is a leading shareholder in Shopify Inc. (NYSE: Shop) with 207,000 shares worth more than than $302.4 million.

But like Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Square, Inc. (NYSE: SQ), Body of water Limited (NYSE: SE), and PayPal Holdings, Inc. (NASDAQ: PYPL), Shopify Inc. (NYSE: Store) is a good cash app stock to invest in according to market analysts.

8. Foursquare, Inc. (
NYSE: SQ
)


Number of Hedge Fund Holders: 92

Digital payment solutions provider Square, Inc. (NYSE: SQ) is ranked 8th on the list of x best cash app stocks to invest in. The San Francisco-based fintech company provides e-commerce and banking financial solutions. Square, Inc. (NYSE: SQ) also operates the peer-to-peer money transfer app Greenbacks App, launched in 2013. Equally of June 2021, Cash App provided access to over forty 1000000 monthly transacting active customers to the stock market.

On August 3, Canaccord analyst Joseph Vafi maintained a Buy rating on Square, Inc. (NYSE: SQ) and increased the firm’s target to $310 per share from the previous $280, highlighting the Afterpay Limited (OTC: AFTPY) acquisition volition accelerate Cash App’due south buy now, pay later on feature.

In the second quarter of 2021, Square, Inc.’s (NYSE: SQ) total net acquirement grew 143% twelvemonth over year to $iv.68 billion. Meanwhile, Greenbacks App generated a gross profit of $546 1000000, up 98% year over year. The company reported an EPS of $0.66, beating estimates past $0.35. The stock has gained 29% year to date.

Out of the hedge funds being tracked past Insider Monkey, Washington-based investment firm

Fisher Asset Management

is a leading shareholder in Square, Inc. (NYSE: SQ) 1,502,742 shares worth more $366.3 one thousand thousand.

But like Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), Sea Limited (NYSE: SE) and PayPal Holdings, Inc. (NASDAQ: PYPL), Square, Inc. (NYSE: SQ) is a adept cash app stock to invest in co-ordinate to market place analysts.

7. Sea Limited (
NYSE: SE
)


Number of Hedge Fund Holders: 98

Singapore-based tech firm Bounding main Limited (NYSE: SE) operates SeaMoney, a digital financial solution that offers digital wallets, consumer and cash loans, and payment processing services available in Southeast Asia and Taiwan. Amidst products under SeaMoney are ShopeePay, AirPay, SPayLater, and SPinjam. Ocean Limited (NYSE: SE) is ranked 7th on the list of 10 best greenbacks app stocks to invest in.

SeaMoney’s mobile wallet total payment volume surpassed $3.four billion in the first quarter of 2021, more than triple compared to the same quarter in 2020. Sea Limited’s (NYSE: SE) quarterly paying users for its mobile wallet services crossed 26.one million. The company’s first-quarter

revenue

came in at $1.viii billion, an increase of 146.vii% year over year.

Ocean Express (NYSE: SE) was given a Purchase rating and a $325 cost target by New Street analyst Jin Yoon on June 25. Shares of Ocean Limited (NYSE: SE) jumped 6% in the last calendar month.

At the end of the outset quarter of 2021, 98 hedge funds in the database of Insider Monkey held stakes worth $10.four billion in Body of water Limited (NYSE: SE).

Just like Alphabet Inc. (NASDAQ: GOOGL), Apple Inc. (NASDAQ: AAPL), PayPal Holdings, Inc. (NASDAQ: PYPL) and Foursquare, Inc. (NYSE: SQ), Body of water Limited (NYSE: SE) is a good cash app stock to invest in according to market analysts.

6. Apple Inc. (
NASDAQ: AAPL
)


Number of Hedge Fund Holders: 127

Apple Inc. (NASDAQ: AAPL) is ranked sixth on the listing of 10 best cash app stocks to invest in, with Apple Pay being accustomed as a digital payment selection at 90% of retail outlets in the US. Apple Pay is the mobile payment platform used past 43.9 1000000 people in the United States.

According to

Bloomberg
, Apple Inc. (NASDAQ: AAPL) is in collaboration with Assert Holdings, Inc.’s (NASDAQ: AFRM) PayBright to launch a Purchase At present, Pay Later (BNPL) service for Apple items in Canada start August 11.

In the tertiary quarter of 2021, Apple tree Inc. (NASDAQ: AAPL) recorded an EPS of $ane.xxx, beating estimates by $0.29. The company’s third-quarter acquirement was $81.43 billion, increasing 36% year over year, beating acquirement estimates by $8.09 billion. The visitor’s service segment, which includes Apple Pay, Apple TV+, and App Shop, saw a 28% jump in revenue to $17.5 billion, up from $thirteen.7 billion in the aforementioned period in 2020.

Ananda Baruah of Loop Capital maintained a Buy rating on Apple Inc. (NASDAQ: AAPL) on July 29 and increased the firm’southward cost target to $165 per share from $150. Shares of Apple Inc. (NASDAQ: AAPL) climbed fifteen% in the last 3 months.

At the end of the first quarter of 2021, 127 hedge funds out of the 866 tracked past Insider Monkey held stakes in Apple Inc. (NASDAQ: AAPL), worth roughly $130.ix billion.


Click to continue reading and run across the 5 All-time Greenbacks App Stocks to Invest In.

Suggested Articles:

  • 10 Best Penny Stocks Popular on Reddit

  • 10 All-time FAANG Stocks to Buy Now

  • What are the All-time Stocks to Buy Right Now?

Disclosure. None.


10 Best Cash App Stocks to Invest In


is originally published on Insider Monkey.