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Tuesday, May 30, 2023

PayPal Doesn't Make Wells Fargo Top Near-Term Fintech Picks

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The financial rebound of the previous two years has buoyed the monetary expertise sector.

And some fintech firms can proceed to thrive near-term, whilst financial development slows, Wells Fargo analysts say.

“Fintech fundamentals remained strong in the first quarter of 2022,” they wrote in a commentary. “Group revenue increased by 26.5% … while earnings per share (EPS) growth was a healthy 13.8%.”

Going ahead, “we expect to see the sector’s revenue growth begin to slow over the next two quarters,” the analysts mentioned. “Our sense also is that fintech management teams will begin placing greater focus on expenses and their bottom lines as the macro environment begins to soften.”

Source: www.thestreet.com

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