We continue to believe PayPal’s stock is materially undervalued with $135 fair value estimate.
Margins are now roughly in line with prepandemic levels; Stock is fairly valued.
Fair value estimate of $229 maintained; company poised to benefit from `significant tailwinds.’
The network continues to bounce back from the headwinds they have faced through the pandemic.
Visa delivered a strong second quarter, as the company continues to see some bounceback from its pandemic-related issues. We will maintain our $221 fair value estimate.
Morningstar's analyst thinks the company could face headwinds in 2022, but investors may want to log on at the stock's current price.
For both networks, transactions related to Russia accounted for 4% of net revenue.
Block continues to build out its Cash App business, and its Square operations are bouncing back from the pandemic.
We continue to believe the narrow moat company is well-positioned to benefit from secular trends over time as we maintain our FVE.
Visa should be able to continue to achieve outsize growth in the near term as headwinds abate
We're maintaining our $352 fair value estimate for the wide-moat company.
Morningstar's analyst suggests the payment processor faces some near-term issues.
We will maintain our fair value estimate for the narrow-moat firm.
Square SQ maintained fairly heady growth in the third quarter, but growth in the quarter was more muted than we have seen in recent quarters. We will maintain our $112 fair value estimate.
The relatively quick bounceback we’ve seen for the networks supports our favorable long-term secular view.
The market doesn't appreciate the insurer's improvement, and we think the shares are cheap.
Moats and management make the difference.
We maintain our fair value estimate for the narrow-moat company.
While strong year-over-year results were largely due to comparisons against the lowest point of the pandemic, we see some positive signs even after adjusting for this.
We will maintain our fair value estimate and wide moat rating.
Processed transactions in the quarter were up 8% year over year.
We think much of Cash App’s recent success has come from Square’s efforts to build out ancillary services on the platform, and this could provide another tie-in.
Visa’s fiscal first-quarter results mirrored results from peer Mastercard in many respects, although on the whole it appears Visa is outperforming a bit at the moment. We will maintain our $194 fair value estimate and wide moat rating.
The impact of the pandemic on electronic payment providers has been far from even.
The company finished the fiscal year roughly in line with our expectations, and we will maintain our fair value estimate and wide moat rating.
We plan on maintaining our fair value estimate and wide moat rating.
We're still ambivalent about recent M&A, though.
The pandemic has led to major declines for payment networks, but we maintain our fair value estimate and wide moat rating for this company.
We remain comfortable with our full-year projections for Visa, and will maintain our $166 fair value estimate and wide moat rating.
Losses look manageable, and this could be a good time to buy.
The wide-moat company saw only a partial effect from the COVID-19 crisis in the first quarter results.
We are maintaining our fair value estimate for this wide-moat firm despite the impact COVID-19 will have on the company's near-term growth.
We will maintain our fair value estimate and wide-moat rating.
Results are a continuation of current trends.
We think it should trade closer to book value than its current deep discount.
This combination will help the company exploit some key trends.
We like the Global Payments/TSYS merger the best. Here's why.
We're maintaining our fair value estimate for the wide-moat firm.
Hurricanes and other disasters resulted in $1.5 billion in catastrophe losses for the insurer.
AIG needs only a modest improvement to be materially undervalued.
AIG's new management team should help bring the firm's subpar returns closer to peers.
We expect limited losses within our coverage and will maintain our fair value estimates and moat ratings for all the P&C insurers we cover.
Experian, Equifax, and TransUnion can profitably expand in multiple directions.
The company is sustaining its strong growth trajectory, but we think the current market price is overly rich.
Experian, Equifax, and TransUnion have weathered the aftermath of Equifax's security breach, and we see a secular opportunity for the industry.
The new CEO's background inspires confidence that he can fix issues.
Technologies like vehicle monitoring are impacting auto insurers today, but fully driverless cars are too far away to create problems.
Richard Smith's retirement isn't surprising, but his experience could've been useful as the company resolves its data-breach issues.
We expect reinsurers to feel the biggest impact and see Travelers and Berkshire Hathaway as attractive today.
Because of the limited presence of national primary carriers in the homeowners market in Florida, the biggest industry impact of large privately insured losses could be in reinsurance.