For Immediate Release
Chicago, IL – September 10, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple, Inc. (AAPL - Free Report) , PayPal Holdings, Inc. (PYPL - Free Report) , Visa Inc. (V - Free Report) and Global Payments Inc. (GPN - Free Report) .
Here are highlights from Wednesday’s Analyst Blog:
4 Stocks to Watch as Contactless Payments Gain Traction
Stay-at-home orders and social distancing measures to protect oneself from the coronavirus infection have seen an increasing number of people opting for contactless payments. A surge in e-commerce sales during the pandemic has further given a boost to plastic money and mobile wallets.
More Americans Using Contactless Payments
According to a report by Rapyd, a global fintech organization, 54% of consumers surveyed are concerned about handling paper money/coins as a result of COVID-19. Also, 60% plan to use digital or contactless payments instead of cash/coins even after the coronavirus pandemic is over. The conventional mode of cash transactions is being replaced by digital payments, perhaps due to the fear that currency notes or coins could be carriers of coronavirus.
In fact, many stores are encouraging customers to use contactless payments to reduce the virus' spread. Research also suggests this shift to contactless payment is likely to create a sustainable change in attitudes that will last long after all the restrictions tied to the pandemic have been lifted.
Economic Impact Payments, E-commerce Drive Contactless Payments
Although retail sales have taken a beating owing to the pandemic there has been substantial growth in online sales. According to eMarketer’s latest report, e-commerce is expected to jump 18% this year. E-commerce sales are expected to reach $709.78 billion this year, representing 14.5% of total U.S. retail sales in 2020.
Payments solution companies are introducing newer modes of contactless payments. Also poised to further transform the payments’ landscape is 5G technology, which is expected to come to fruition in mobile networks later this year. By eliminating connectivity issues across the transaction process, 5G will help decrease the time between payment and its confirmation at the consumer end.
Stocks to Watch
Apple, Inc.’s Apple Pay is a mobile contact payment system and digital wallet service introduced in 2014. The service allows users to pay for products and services using near-field communication at the point of sale, whether in person, via iOS apps or the Internet.
The company’s expected earnings growth rate for the current year is 8.8%. The Zacks Consensus Estimate for current-year earnings has improved 4.9% over the past 60 days. Apple has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
PayPal Holdings, Inc. has emerged as one of the largest online payment solutions providers on the back of its strong product portfolio and two-sided platform that enables it to offer a smooth and secure transaction facility to both customers and merchants.
The company’s expected earnings growth rate for the current year is 20.7%. The Zacks Consensus Estimate for current-year earnings has improved 12.3% over the past 60 days. The company has a Zacks Rank #3 (Hold).
Visa Inc. operates a retail electronic payments network worldwide. It provides transaction processing services (primarily authorization, clearing and settlement) to financial institutions and merchant clients through VisaNet, its global processing platform.
The company’s expected earnings growth rate for next year is 15.6%. The Zacks Consensus Estimate for current-year earnings has improved 0.2% over the past 60 days. Visa has a Zacks Rank #3.
Global Payments Inc. was incorporated in Georgia as Global Payments Inc. in 2000 and spun off from its former parent company in 2001.
The company’s expected earnings growth rate for the current year is 1.5%. The Zacks Consensus Estimate for current-year earnings has improved 5.5% over the past 60 days. The company has a Zacks Rank #3.
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