10 Best Fintech Stocks To Buy in 2024

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 163

Visa Inc. (NYSE:V) facilitates transactions between merchants, consumers, government entities, and financial institutions across more than 200 markets. The company’s journey started in 1958 when the Bank of America introduced the first consumer credit card program in the United States. It was in 2007 that Visa formed a global corporation and eventually went public in 2008 in one of the largest IPOs. The firm connects the world through a secure and convenient payments network.

As a leader in digital payments, Visa Inc. (NYSE:V) powers the global economy. The company connects 4 billion account holders to more than 130 million merchants, 14,500 financial institutions, and governments across its markets. Among its peers operating in the broader transaction and payment processing services, Visa has a significant market capitalization of $521.86 billion.

With net revenue growth of 10% and GAAP EPS growth of 20%, Visa closed a strong fiscal third quarter of the year. The key business drivers during the quarter include payments volume up 7%, processed transactions up 10%, and cross-border volume up 14%, on a year-over-year basis. The cross-border volume drives the company’s international transaction revenue. Simultaneously, service revenue was $4 billion, an increase of 8% since the same period in 2023. Data processing revenue climbed 9% year-over-year to $4.5 billion while international transaction revenue grew 9% year-over-year to $3.2 billion. Other revenue rose 31% over the past year.

In conclusion, the firm has a lot to offer through its globally spread reach, brand value, financial strength, and its leading market position. As of Q2, Visa Inc. (NYSE:V) is held by 163 hedge funds. TCI Fund Management was the largest shareholder in the company with a stake worth $4 billion.

While we acknowledge the potential of V as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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