Hedgeye CEO Keith McCullough is adding Fiserv (FISV) to the long side of Investing Ideas. Below is a brief note.
I guess its asymmetric buying opportunity day @Hedgeye!
I've been waiting on Fiserv (FISV) to correct post its recent ramp towards the low-end of its Risk Range™ Signal... and it's doing that today.
Here's a good excerpt from Josh Steiner's Financials Pro subscription on the name:
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Takeaway: We continue to favor FISV based on solid performance in key digital payments verticals and an array of positive catalysts through 2021 Review of the Quarter: Fiserv reported adjusted EPS of $1.37, up +47% y/y and coming in ahead of the top-end of the 29-analyst estimate range of $1.18-$1.34. The beat was driven by the top-line, namely better-than-expected performance in the company's merchant acceptance segment. Fiserv's Merchant Acceptance segment, composing ~40% of total revenue, posted organic growth of +41% y/y in 2Q21, greatly outpacing the -15% organic revenue decline in 2Q20. Growth in the Merchant Acceptance business, while broad-based, was led by a +33% y/y increase in North America volumes. Moreover, Clover volumes rose +96% y/y to $184 billion annualized, while Clover Connect, the company's ISV-focused offering, saw volumes grow +122% y/y in the quarter. |
Buyem on red. Don't chase like a panting dog on green,
KM