Investments

Earnings Sway Payments Stocks, Mostly To The Upside

The wind-down of earnings season may be under way, but within the payments space, earnings still had an impact sector-wide, with a few marquee names reporting results.

Chief among earnings-related activity was Square, which saw nearly 20 percent gains on the heels of news that transaction volumes were up 34 percent. Losses narrowed, and the company also said that its capital lending arm and newer hardware initiatives were gaining traction.

Similarly, Green Dot shares sailed upwards by nearly 9 percent, to $29.40, and that boost followed earnings results that also topped the Street. The number of cash transfers and card holders were both positive as measured year over year.

Ingenico Group shares gained about 5 percent on the announcement that the firm had posted results for the period that ended in December, with ePayments showing double-digit-growth year over year to around 19 percent.

Diebold Nixdorf saw its own stock up roughly 5 percent on the week as well, after Credit Suisse initiated coverage on the name with an “outperform” rating.

Looking toward the companies that did not fare as well and posted losses for the week, Mitel slipped 3 percent on the week, with no company-specific news, and where the decline follows the announcement earlier this past month that results were below expectations.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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