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The labor market supported the stock quotes. The return of fintechs

The labor market supported the stock quotes Johannes Röll Visitors: 279

News and comments


The S&P 500 rose 0.5% yesterday following the release of strong US labor market data and vaccine news. Initialclaims for unemployment benefits fell by 97 thousand to 684 thousand - a record since the beginning of thepandemic. Biden also promised to use 200 million doses of the vaccine by the end of April. The current results ofthe vaccination campaign in the United States are encouraging. Already 70% of the population over 65 havereceived at least one dose of the vaccine. Oil is holding around $ 63 after the blocking of the Suez Canal, whichrisks dragging on for weeks.


Company news


Adam Selipsky appointed CEO of Amazon Cloud Segment (NASDAQ: AMZN) - AWS. Selipsky will take over in Q3, while the previous segment CEO Andy Jesse will take over as Amazon CEO.


Adam Selipsky joined the AWS team in 2005 as Vice President of Marketing and Support. In 2016, Selipsky leftAmazon to head up the Tableau company. Over the course of 3 years, Selipsky was able to transform Tableau'sbusiness model from a licensing sales model to a subscription model, after which Tableau was acquired bySalesforce (NYSE: CRM) for $ 15.7 billion in 2019. Given Adam Selipsky's experience at AWS and Tableau, Iexpect that the market will positively assess its purpose. Let me remind you that the AWS segment accounts for12% of Amazon's revenue and 60% of the operating profit.


The upside potential for fintech securities rose after the last correction in growth stories. According to marketparticipants, the financial technology industry is just starting to gain momentum. New players such as Stripe andAffirm raised funding, the volume of which took the valuation of fintech players to a new level: Stripe was valued at$ 95 billion (almost 3 times higher than the previous round), Affirm went to an IPO with an estimate of over $ 10billion.


The main reasons for the increased interest in fintech companies are the huge TAM (potential settlement market) of$ 250 trillion with weak penetration (modern payment methods account for only 15%), the rapid development ofrelated products (credit, loyalty programs, etc.), the adoption by fintech players different business segments (B2B, B2C, SME, P2P).


I believe that the significant growth of fintech securities before the correction was NOT excessive for most of thenames from this segment in my coverage, in particular, for Visa (NYSE: V), Mastercard (NYSE: MA), PayPal(NASDAQ: PYPL), American Express (NYSE: AXP). And especially I single out PayPal shares as the mostundervalued after the correction, and we believe that the company's shares retain the upside potential of 25% to thecurrent quotes.




Johannes Röll
Johannes Röll

Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer

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