2 Buy-Rated Fintech Stocks to Buy This Month
StockNews
Published Sep 17, 2021 04:49PM ET
Updated Sep 17, 2021 05:30PM ET
2 Buy-Rated Fintech Stocks to Buy This Month
As more innovative solutions come into play in the financial space, the fintech market could grow exponentially in upcoming months thanks to the increasing preference for digital transactions. So, it could be wise to invest in quality fintech stocks Sapiens International (NASDAQ:SPNS) and QIWI (QIWI), that are rated a Buy in our proprietary POWR Ratings system.Even though concerns related to data security have been dampening the fintech industry’s near-term growth prospects, the industry holds immense upside potential in the long run due to the increasing adoption of advanced technologies. Investors’ optimism in fintech stocks is evident from the Global X FinTech ETF’s (FINX) 5.5% gain over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 0.6% loss.
Moreover, the Federal Reserve could raise interest rates as early as 2023 and recently indicated its willingness to reduce asset purchases before the end of the year, which bodes well for fintech companies. According to The ExpressWire report, the fintech market is expected to grow at a CAGR of 8.6% between 2021 and 2024.
Given this backdrop, it could be wise to bet on fundamentally strong fintech stocks Sapiens International Corporation N.V. (SPNS) and QIWI plc (QIWI). These two stocks have an overall B (Buy) rating in our proprietary POWR Ratings system.
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