Fiserv Inc. (NASDAQ: FISV) is a fintech company that is a global provider of financial services technology. The company’s clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. According to recent reports, the company is now undoing a lot of damage done to it in March, 2020. Analysts report that the company took longer than expected to start working to start mending the gap but now that it has, FISV stocks are taking some major turns.
FISV Stocks Look Forward To A Positive 2021, Forecasts Analysts
Recent metrics prove to us that 2020 is going to end well for the company, at least way better than how it was expected to end for Fiserv Inc. The company is working rapidly to mend the gap as there are only a handful of trading days left for this calendar year.
Fiserv has been able to recover approximately 20% of the damage in the last month. This was underpinned by the 3rd quarter’s earnings report issued by the company in October. The report also hinted at the possibility of a positive 2021 with more growth outlook for the company. Though investors were not entirely impressed back in October with the Q3 earnings, EPS and other metrics of FISV stocks came in higher than the expected consensus.
Other technical details include a 3% growth rate in revenue as opposed to the analysts’ consensus of -8%. This further cleared the tense situation of FISV stocks, boosted their confidence and raised the FY2020 guidance report.
The current situation of this stock has attracted many bulls recently. The 2020 FY (Full Year) guidance is likely to grow by 11%. EPS is expected to increase by 25%. This boosts investor confidence in FISV stocks. The company further announced that they have widened their lower end of internal growth range in revenue considering the economic volatility surrounding the Covid-19 pandemic.