APCX - Four Fintech Stocks For 2023
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Financial technology,or fintech, is a broad category of companies that use technology toimprove or automate financial services. Companies that develop newdigital payment-processing solutions are considered fintech, as arecompanies that build and operate person-to-person paymentapplications.
Many fintech stocks were hit hard in 2022 with the stock marketdownturn; however, 2023 has started off strong for the sector, andanalysts and investors are taking notice. On January 20th, shares of Block, Inc. (NYSE:SQ) jumped over seven percent after Truistincreased its price target for the digital payments company from $85per share to $105 per share. Truist analyst Andrew Jeffrey lifted theprice target as a part of broader research coverage on fintechstocks.
Thefintech market was valued at USD 112.5 billion in 2021, and the sectoris predicted to grow at a CAGR of 19.8% to USD 332.5 billion by theyear 2028.
Withplenty of room to grow, there’s a ton of long-term potential in thefintech industry, so it can be an opportune time to look for solidcompanies to hold for the long term.
Here are four fintech companies every investorshould keep an eye on: AppTech Payments Corp. (NASDAQ: APCX),Block, Inc. (NYSE: SQ), PayPal (NASDAQ: PYPL), and Sofi TechnologiesInc. (NASDAQ: SOFI).
AppTech Payments Corp. (NASDAQ: APCX) is an innovativefintech company whose mission is to deliver a better way forbusinesses to provide their customers with customizable, immersivecommerce experiences.
AppTech’s all-new, patent-backed fintech platform, known asCommerse, is powering their "CommerceExperiences-as-a-Service," designed to fundamentally change theway digital banking, mobile payments, and merchant services arefacilitated.
Commerse provides digital banking, text-to-pay, cryptopayments, and merchant services altogether from a single, unifiedplatform that drives operational efficiencies and growth forbusinesses while providing the economic convenience that theircustomers demand from today’s commerce experiences.
The platformincorporates Payments as a Service, Banking as a Service, data, AI/ML,MarTech, and other features to create flexible, rich, and personalizedpayment and banking experiences for their end users.
Commerse providesseamless digital banking and digital payment acceptance, includingcredit card issuance of physical and virtual cards from credit cardand alternative payment processing services such as text-to-pay, tocross-border payment capabilities, all housed within a singleecosystem.
AppTech’s Commerse fintech platform is making waves andgetting noticed. APCX received a shout out from Slatestone WealthChief Market Strategist Kenny Polari on Fox Business, regarding thestock's potential in the 2023 year.
One of the key features found in the Commerseplatform is the ability to "text-to-pay." Digital payments arequickly displacing other payment methods; in 2020, digital paymentsovertook cash as the top transaction method for offline commerce andaccounted for about 50% of global online commerce volume in2021.
APCX isrevolutionizing the industry with its ground-breaking, patented‘Text-to-Pay’ technology for contactless transactions. Customersof AppTech have access to pre-built, API-driven features that make itsimple to create and send invoices via text message and let customersmake payments via text message, the most popular method of digitalcommunication.
APCX’s upward trajectory doesn't stop there, infact—the company currently owns 17 different patents. In a recentinterview, Luke D'Angelo, Executive Chairman, CEO & ChiefInvestment Officer at APCX, commented on their patents, stating:“First and foremost, our intellectual property is bar none.Obviously, big companies have good patent portfolios, but the key tointellectual property and patents is being first. I can say that wehave been first on a lot of fronts. We wanted to make sure that whenwe came to market that we're not looking back. We're notlooking to the left or right, we're just charging straightforward. Our due diligence and study of the fintech market for thelast seven years is paramount."
The company has a strong portfolio of intellectualproperty, ground breaking technology with all time high adoptionrates, and a comprehensive platform that enables small businesses. PutAPCX on your radar for stocks to keep an eye on in 2023.
Block, Inc. (NYSE:SQ) is a global technology company with a focus on financialservices. Made up of Square, Cash App, Spiral, TIDAL, and TBD, Blockbuilds tools to help more people access the economy.
One of Block'ssuccesses, Cash App, enables users to send, spend, or invest money inBitcoin or stocks with ease. Spiral creates and funds open-sourceBitcoin projects that are free to use. TIDAL is used by artists tohelp them succeed as entrepreneurs and connect with their fans moredeeply. TBD is creating an open developer platform to make it easierto gain access to Bitcoin and other blockchain technologies withoutgoing through a financial institution.
Recently, Truist analyst Andrew Jeffretadjusted his price target for the digital payments company from $85per share to $105 per share. As part of broader research coverage onfintech stocks, the Truist analyst raised the price target.
With the stock alreadyperforming well in 2023, it is one to keep an eye on.
PayPal Holdings, Inc.(NASDAQ: PYPL) is a pioneer in the fintech space, and with 432million active accounts, it's also one of the biggest players.PYPL operates a technology platform that enables digital payments onbehalf of merchants and consumers worldwide.
In a conference call todiscuss financial results for the third quarter of 2022, PayPal ChiefFinancial Officer Gabrielle Rabinovitch discussed the company'splans for 2023, stating, "Returning capital to our shareholderscontinues to be our single biggest priority from a capital allocationstandpoint, and I think it will continue to be."
Even though PayPalisn't the high-growth opportunity it once was, with only 7%year-over-year revenue growth anticipated for the current quarter, itis still possible for PayPal to increase revenue per share by adouble-digit percentage, which should be sufficient to outperform themarket in 2023 and beyond.
SoFi Technologies Inc. (NASDAQ: SOFI) operates through three segments: lending, technology platforms,and financial services.
SoFi's lending and financial services and products allowits members to borrow, save, spend, invest, and protect their money.It offers student loans, personal loans for debt consolidation andhome improvement projects, and home loans. The company also providescash management, investment, and technology services.
While 2022 was not thestrongest year for the stock, the past month has proven to bedifferent, with shares of the company having gained 27.33% over thetime period.
It is also worth notingthe recent changes in analyst estimates for SoFi Technologies, Inc.These most recent changes typically reflect how quickly short-termbusiness trends change. Because of this, we can view favorableestimate revisions as a sign that the company's business outlookis improving.
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