FOUR - Why Shift4 Payments Stock Was Up 16% Last Month
2024-06-04 18:39:00 ET
Shares of financial-technology (fintech) company Shift4 Payments (NYSE: FOUR) were up 16.3% during May, according to data provided by S&P Global Market Intelligence . The company reported financial results for the first quarter of 2024 on May 9. And while it wasn't necessarily a perfect quarter, investors were still encouraged by the results.
In Q1, Shift4 generated gross revenue of over $700 million, which was up 29% year over year. This is a nice growth rate, but it was behind Wall Street's expectations. Then on the bottom line, the company had Q1 net income of $28.5 million, which is encouraging for a high-growth company -- many aren't profitable. But again, the analyst community had expected a little more.
Normally, when Wall Street's expectations go unmet, stocks drop. But in this case, it seems investors looked past Q1 results because Shift4's management didn't make any major adjustments to its full-year financial guidance.
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Why Shift4 Payments Stock Was Up 16% Last Month