3 Top Fintech Stocks to Buy in April
The coronavirus crisis has left few stones unturned as it wreaks havoc on the global economy. While many digital businesses are in better shape than ever as many people are confined to their homes, fintech has not exactly held up. Though digital payments are more important than ever, the decrease in economic activity will likely more than offset higher adoption of digital tools in lieu of cash payments.
Nevertheless, some fintech stocks have started to rally as signs are emerging that COVID-19 is infecting fewer people. The biggest players, like Visa (NYSE: V), Mastercard (NYSE: MA), and PayPal (NASDAQ: PYPL), have bounced off their lows in March by double digits and remain on my list of top buys. In April, though, I'm turning my focus to Alibaba (NYSE: BABA), StoneCo (NASDAQ: STNE), and Fair Isaac (NYSE: FICO), all of which still have a lot going for them over the long term.
First up is Alibaba, another stock that has held up well during the market meltdown. Shares are down 12% from all-time highs as of this writing and continue to rebound as the Chinese economy gets up and running again after dealing with the contagion early. To be sure, Alibaba's business will report that it suffered disruption during the first quarter of 2020, with CEO Daniel Zhang hinting at that during the fourth quarter 2019 report. Specifically, retail, travel, and cloud computing will stumble, offset by some yet unknown amount by grocery and delivery services.
Source Fool.com
