Summer 2024 is fast approaching, bringing with it a golden opportunity to diversify your investment portfolio. The booming Fintech sector is filled with innovative companies ready to transform the financial landscape. But what are the must-have gems to uncover this summer? In this article, we will explore seven Fintech stocks that not only represent a trend but could also propel your portfolio to new heights. Don’t miss this chance to grow your investments in an ever-evolving field full of promises.
If you are looking to boost your portfolio this summer, Fintech stocks are an excellent option. With a projected compound annual growth rate of 16.5% through 2032, the Fintech sector holds promising opportunities. Here are seven Fintech stocks to seriously consider for long-term returns.
Nu Holdings (NU)
Nu Holdings, a Brazilian digital bank, has recently surpassed 100 million customers. With a revenue growth of 69% year-over-year and a net income increase of 167% in Q1 2024, this stock deserves your attention. Wall Street analysts forecast a potential upside of 17%.
Robinhood (HOOD)
Robinhood has performed impressively this year, with shares rising 71% since the beginning of the year. Their cryptocurrency transaction revenue soared by 232%, reaching $126 million, while net profits hit $157 million.
American Express (AXP)
American Express continues to perform well, with revenues up 8% and net income increasing by 39% in Q2 2024. With a dividend yield of 1.14% and double-digit dividend growth rates, the stock is rated as a moderate buy by analysts.
SoFi (SOFI)
SoFi offers a comprehensive range of financial products. Although past performances have been mixed, revenue growth of 37% in Q1 2024 and a 44% increase in active members demonstrate its potential. Analysts estimate an upside of up to 62%.
Morningstar (MORN)
Morningstar, an investment research company, continues to grow with a revenue increase of 13.3% in Q2 2024. With a 90.5% increase in diluted earnings per share, the stock is valued for its solid financial fundamentals and consistent dividend increases.
Moody’s (MCO)
Moody’s delivers strong financial performance with revenues up 22% and a 43% increase in adjusted EPS in Q2 2024. The stock also offers a yield of 0.76% and has a 15-year history of dividend growth.
Visa (V)
Visa is another credit and debit card issuer to watch. Although the stock has remained stable this year, its solid financial fundamentals, with a net profit margin of 54.7% in Q3 FY 2024, make it an interesting opportunity. Analysts project a potential gain of 22%.
Concise List of Fintechs for Summer 2024
| Name | Potential |
| Nu Holdings | +17% |
| Robinhood | +71% |
| American Express | +31% YTD |
| SoFi | +62% |
| Morningstar | 18% YTD |
| Moody’s | 18% YTD |
| Visa | +22% |
