10 Best Fintech Stocks To Buy in 2024

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 142

Mastercard Incorporated (NYSE:MA) is a global payment technology solutions company that serves consumers, small and medium businesses, government and public sector, large enterprises, banks, and credit unions. The firm has pioneered technology to enable safer payments for more than 50 years. Mastercard’s purpose revolves around powering an inclusive digital economy that tends to benefit all. Currently, it connects individuals, businesses, and organizations in more than 210 countries and territories.

Mastercard serves as a payments industry leader which has material results to offer. Over the preceding 5 years, the firm’s revenue grew by 10.94% while its net income expanded by 12.81%. With double-digit net revenue and earnings growth, the firm successfully closed another quarter. Driven by the growth in the payment network and value-added services and solutions, net revenue went up by 11%. The cross-border volume growth of 17% year-over-year and healthy consumer spending supported the company’s results across all business aspects.

Mastercard Incorporated (NYSE:MA) continues to position itself for long-term growth by differentiating its products and solutions and diversifying its revenue streams. Back in April, the firm announced an organizational structure realignment centered on three interdependent areas including Core Payments, Commercial and New Payment Flows, and Services. While Core Payments work as the company’s foundation, Mastercard finds a scalable opportunity in payment and data flows beyond consumer card payments. Simultaneously, offerings from Mastercard’s current Cyber & Intelligence, Data & Services, and Open Banking teams remain integrated under Services.

The strong business fundamentals, a diversified business model with healthy consumer spending, established demand for value-added services, and the persistent shift to digital forms of payment place make Mastercard an unrivaled fintech company. As of Q2 2024, Mastercard Incorporated (NYSE:MA) is held by 142 hedge funds. Akre Capital Management was the top shareholder with a stake worth $1.7 billion.