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Discover (DFS) Introduces Investment Fund for Tech-Startups
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Discover Financial Services (DFS - Free Report) launched the Discover Financial Health Improvement Fund to support startups and early-stage technology companies aiming to improve financial health. The company has agreed to commit $36 million to this fund.
This move bodes well for Discover Financial, which is determined to help low-income and moderate-income businesses and communities. Per PYMNTS research, 16% of higher-income consumers faced financial problems, which increased 45% year over year. Small businesses also depend on cash and inappropriate financial products for emergencies. Per the report, 17% of companies had no cash cushion to cover emergencies.
Discover Financial will work with Financial Health Network, ResilienceVC and Chartline Capital. Financial Health Network will assist the investment fund in assessing the startups potential to be financially strong in the future. ResilienceVC and Chartline Capital are venture capital firms which will manage Discover Financial’s early-stage and later-stage investments.
With this mission-oriented fund, Discover Financial aims to support budding entrepreneurs who are at the forefront of helping low-income and moderate-income group communities. These startups are expected to cater people with affordable and appropriate products saving them from high-interest costs and financial difficulties.
Price Performance
Discover Financial’s shares have gained 18.5% in the past three months compared with a 15.9% rise of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Discover Financial currently has a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for EZCORP 2023 revenues indicates 15.6% year-over-year growth. The consensus mark for 2023 earnings suggests 13.3% year-over-year growth.
The bottom line of EZPW outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 71.7%.
The Zacks Consensus Estimate for ENVA 2023 revenues indicates 15.8% year-over-year growth. The consensus mark for 2023 earnings suggests 11% year-over-year growth.
The bottom line of ENVA outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 8%.
The Zacks Consensus Estimate for PROG Holdings 2023 earnings suggests 3.5% year-over-year growth.
The bottom line of PRG outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 27.5%.
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Discover (DFS) Introduces Investment Fund for Tech-Startups
Discover Financial Services (DFS - Free Report) launched the Discover Financial Health Improvement Fund to support startups and early-stage technology companies aiming to improve financial health. The company has agreed to commit $36 million to this fund.
This move bodes well for Discover Financial, which is determined to help low-income and moderate-income businesses and communities. Per PYMNTS research, 16% of higher-income consumers faced financial problems, which increased 45% year over year. Small businesses also depend on cash and inappropriate financial products for emergencies. Per the report, 17% of companies had no cash cushion to cover emergencies.
Discover Financial will work with Financial Health Network, ResilienceVC and Chartline Capital. Financial Health Network will assist the investment fund in assessing the startups potential to be financially strong in the future. ResilienceVC and Chartline Capital are venture capital firms which will manage Discover Financial’s early-stage and later-stage investments.
With this mission-oriented fund, Discover Financial aims to support budding entrepreneurs who are at the forefront of helping low-income and moderate-income group communities. These startups are expected to cater people with affordable and appropriate products saving them from high-interest costs and financial difficulties.
Price Performance
Discover Financial’s shares have gained 18.5% in the past three months compared with a 15.9% rise of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Discover Financial currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Consumer Loans space are EZCORP, Inc. (EZPW - Free Report) , Enova International, Inc. (ENVA - Free Report) and PROG Holdings, Inc. (PRG - Free Report) . EZCORP and Enova International sport a Zacks Rank #1 (Strong Buy), while PROG Holdings carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for EZCORP 2023 revenues indicates 15.6% year-over-year growth. The consensus mark for 2023 earnings suggests 13.3% year-over-year growth.
The bottom line of EZPW outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 71.7%.
The Zacks Consensus Estimate for ENVA 2023 revenues indicates 15.8% year-over-year growth. The consensus mark for 2023 earnings suggests 11% year-over-year growth.
The bottom line of ENVA outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 8%.
The Zacks Consensus Estimate for PROG Holdings 2023 earnings suggests 3.5% year-over-year growth.
The bottom line of PRG outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 27.5%.