-
Shopify Inc. Class A Subordinate Voting Shares (SHOP $214.22)
-
Global Payments Inc. (GPN $76.03)
-
Shift4 Payments Inc. Class A (FOUR $66.15)
-
Toast Inc. Class A (TOST $37.00)
Q: Your general thoughts and analysis on Global Payments please, thanks.
5i Research Answer:
GPN is considered a legacy payment name, which has shown decelerating growth in recent years due to tough competition from more innovative fintech companies. The legacy payment sector is currently out of favour and trading at cheap valuations. GPN is viewed as “old fintech,” with growth expected to be around 3%–5% over the next few years. The fintech landscape is fiercely competitive and constantly evolving. We think investors are better off sticking with innovators that consistently capture market share—such as FOUR, TOST, and SHOP—rather than legacy payment companies.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in FOUR.