Priya Patel
Affirm, Robinhood, Fidelity National Info, and Block have been identified by Mizuho Analyst, Dan Dolev, as the top fintech stocks for 2024. Dolev believes that Affirm is more than just a “Buy Now Pay Later” provider and sees it as an alternative payment network competing with Visa, Mastercard, and PayPal. He also notes that the addition of Affirm’s physical card has expanded its total addressable market to include in-store retail, equating to around $7 trillion.
Dolev sees Fidelity National Info as being well-positioned now that it has divested its merchant acquiring business. He expects improved stability over time and projects FY24 revenue of $10.06 billion. Robinhood is seen as a significant benefactor in an improving financial outlook, particularly with lower interest rates. Dolev believes that trading activity will continue to improve as market sentiment improves. Lastly, he states that Block could comfortably achieve over 16% gross profit growth in 2024, helped by Square’s Point of Sale business and Cash App.
