These 2 Fintech Stocks Are Set to Soar in 2024 and Beyond
The stocks of leading fintech companies Block (NYSE: SQ) and Paypal (NASDAQ: PYPL) have been on rollercoaster rides the past few years. However, both stocks are set up to have strong years in 2024 and should be solid performers in the years to come.
Block is best known for its Square ecosystem, which was first designed to allow sellers to accept credit and debit card payments from their phones or tablets, but has since evolved into an entire product suite for retailers. The company also owns Cash App, which is known for its free peer-to-peer payment network but which has also expanded into other services.
The company has shifted its focus in recent years from revenue growth to profitable growth. Block is looking to achieve the Rule of 40 metric by 2026. This metric is when a company's revenue growth rate and profit margin are 40% or above, and demonstrates that a company is growing responsibly. For its Rule of 40 calculation, Block is using adjusted operating margin. Its adjusted operating income excludes interest income, taxes, one-time charges, and some non-cash amortization items.
Source Fool.com
Square Inc. Stock
Currently there is a rather positive sentiment for Square Inc. with 5 Buy predictions and 0 Sell predictions.
As a result the target price of 87 € shows a positive potential of 30.85% compared to the current price of 66.49 € for Square Inc..
