Kaspi.kz is forming a cup-without-handle base with a buy point of 136.17, according to IBD MarketSurge. Fintech stock Kaspi.kz is today's selection for IBD 50 Stocks To Watch.
The company provides a platform for payments in Central Asia. It has also been expanding into providing a marketplace for travel and tourism, used car sales and groceries.
Solid sales and earnings growth over the past eight quarters and rising profit estimates for 2024 and 2025 support the stock's price action as it works its way through the base.
Sales grew 43% to $1.2 billion in the first quarter ended March 31. Revenue growth ranged from 20% to 67% the past eight quarters. Earnings of $2.64 per share rose 31%. EPS growth ranged from 12% to 77%, with some of the best gains occurring in last year's quarters, MarketSurge shows.
Fintech Stock Has Best Possible EPS Rating
The company — which went public on the Nasdaq Jan. 19 at 92 a share — already has the best EPS Rating (99) of 38 companies in the credit card and payments industry group.
Analysts expect full-year earnings to climb 27% this year and 22% in 2025.
Its Composite Rating is an impressive 96. The fintech stock has outperformed 88% of other stocks in the Investors' Business Daily database in 12-month price performance.
Mutual funds have been net buyers of the fintech stock in recent weeks, earning Kaspi.kz an Accumulation/Distribution Rating of B. Funds own 53% of shares outstanding. More funds have been buying the stock in the last two quarters.
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