5 Best Fintech Stocks To Buy In 2024

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 167

Visa Inc. (NYSE:V) is a payment technology company operating globally, with a focus on transaction processing through its VisaNet network. Visa Inc. (NYSE:V) ranks 1st on our list of the best fintech stocks for 2024. On January 25, the company reported a FQ1 non-GAAP EPS of $2.41 and a revenue of $8.6 billion, outperforming Wall Street estimates by $0.07 and $50 million, respectively. Visa will also pay a $0.52 per share quarterly dividend to shareholders on March 1, to shareholders of record on February 9. 

According to Insider Monkey’s third quarter database, 167 hedge funds were bullish on Visa Inc. (NYSE:V), compared to 171 funds in the preceding quarter. Chris Hohn’s TCI Fund Management is the biggest stakeholder of the company, with 16.8 million shares worth $3.8 billion. 

In its October 2023 investor letter, Lakehouse Capital stated the following regarding Visa Inc. (NYSE:V):

“Visa Inc. (NYSE:V) reported a strong result with net revenue increasing 11% year-on-year to $8.6 billion and non-GAAP earnings per share increasing by 21% to $2.33. As has been the case for many years now, the scalable nature of the business allows for revenue growth to outpace its costs, which places the company in a good position to navigate through this inflationary period. The network continues to grow, with credentials and merchant locations up 7% and 17%, respectively. Cross-border travel-related spend also maintained its robust growth, increasing 26% year-on-year while Visa Direct reported 7.5 billion transactions, up 19% year-on-year, progressing on penetrating categories such as cross-border remittances. Altogether, we’re pleased with how the business is tracking and remain positive on Visa’s outlook.”

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