10 Best IPO Stocks To Buy Heading into 2025

5. Kaspi.kz (NASDAQ:KSPI)

Average Upside Potential: 42.45%

Number of Hedge Fund Holders: 25

Kaspi.kz (NASDAQ:KSPI) is a leading Kazakh fintech company operating a super app that functions like a one-stop shop, offering online shopping, digital banking with loans and deposits, a payment system, and a loyalty program, all conveniently accessible through the mobile app. It has become a major force in Kazakhstan’s digital world and recently expanded its reach by acquiring a majority stake in a prominent Turkish e-commerce platform.

It acquired a controlling stake in Türkiye’s Hepsiburada, a bold move that positions it for regional dominance. The company is making a strategic move to expand its footprint in Central Asia. It has expressed interest in acquiring Humo, Uzbekistan’s leading payment system. This acquisition would be its first major venture in Uzbekistan, a rapidly growing market with a booming digital landscape.

The company recently released a positive update, boasting impressive financial performance for the first 9 months of 2024. Revenue jumped by a significant 34% year-over-year, and net income climbed a healthy 23% compared to the same period in 2023. This growth isn’t just a one-time bump and the company has been strategically expanding its core businesses.

Both its Marketplace and Payments platforms are experiencing rapid growth, solidifying its position as a financial leader. These segments, now contributing a substantial 68% of consolidated net income, are up from 63% last year. Kaspi.kz (NASDAQ:KSPI) is constantly innovating to keep users engaged. New initiatives like Kaspi Gift Cards and a merchant deposit service demonstrate its commitment to both user experience and solidifying its market presence. Strong financial performance, strategic expansion plans, and continuous innovation paint a promising picture for the company’s future.