Advertisement
Singapore markets close in 4 hours 42 minutes
  • Straits Times Index

    3,457.43
    -3.73 (-0.11%)
     
  • Nikkei

    39,326.31
    -268.08 (-0.68%)
     
  • Hang Seng

    17,361.12
    -108.24 (-0.62%)
     
  • FTSE 100

    8,167.37
    -31.41 (-0.38%)
     
  • Bitcoin USD

    65,923.22
    -1,559.04 (-2.31%)
     
  • CMC Crypto 200

    1,362.45
    -22.81 (-1.65%)
     
  • S&P 500

    5,555.74
    -8.67 (-0.16%)
     
  • Dow

    40,358.09
    -57.35 (-0.14%)
     
  • Nasdaq

    17,997.35
    -10.22 (-0.06%)
     
  • Gold

    2,417.80
    +10.50 (+0.44%)
     
  • Crude Oil

    77.25
    +0.29 (+0.38%)
     
  • 10-Yr Bond

    4.2390
    -0.0210 (-0.49%)
     
  • FTSE Bursa Malaysia

    1,620.48
    -9.20 (-0.56%)
     
  • Jakarta Composite Index

    7,292.33
    -21.53 (-0.29%)
     
  • PSE Index

    6,753.12
    0.00 (0.00%)
     

Mastercard (MA) and Doha Bank Forge Strategic Partnership

Mastercard Incorporated MA recently announced a collaboration with Doha Bank, a key player in Qatar’s financial sector. This move is expected to revolutionize Qatar’s digital payments space and foster financial inclusion. Moreover, Mastercard is expected to aid Doha Bank in maintaining its leadership in innovative payment solutions and customer service.

This initiative bodes well for Mastercard as it aligns with its vision of leveraging technology to empower businesses and individuals and making transactions secure, seamless and accessible to everyone. MA aims to enhance its market presence and expand its reach in the field of digital payments and cards. As MA provides Doha Bank with its expertise in digital solutions, it will help the bank in its strategic transformation.

Moreover, by being able to tap into Qatar’s dynamic economy and digital agenda, as highlighted in the National Vision 2030, MA aims to capture this opportunity and drive growth in the region. As Mastercard benefits from Qatar’s payment landscape and higher number of transactions, its payment volumes and processing fees will improve as a result. Given the continuous investments by Qatar in its technology infrastructure, MA stands to benefit from rising digital payments adoption and overall growth in the market.

A rapidly expanding digital economy, fueled by increased Internet penetration and the higher usage of smartphones, continues to prompt MA to capitalize on its suite of advanced payment solutions and establish a solid global digital footprint. Moves like these should help MA to achieve its net revenue growth outlook in the low-end of low-double-digit growth from the 2023 reported figure of $25.1 billion.

Shares of Mastercard have gained 5.8% in the past six months compared with the industry’s growth of 3.7%. MA currently carries a Zacks Rank #3 (Hold).

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Stocks to Consider

Some better-ranked stocks in the Business Services space are Duolingo, Inc. DUOL, Aptiv PLC APTV and FTI Consulting, Inc. FCN. Duolingo and Aptiv currently sport a Zacks Rank #1 (Strong Buy), and FTI Consulting carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The bottom line of Duolingo outpaced estimates in each of the trailing four quarters, the average surprise being 115.2%. The Zacks Consensus Estimate for DUOL’s 2024 earnings is pegged at $1.74 per share, which indicates a nearly five-fold increase from the year-ago reported figure. The same for revenues indicates year-over-year growth of 37.8%. The consensus mark for Duolingo’s 2024 earnings has moved 13% north in the past 30 days.

Aptiv’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 12.2%. The Zacks Consensus Estimate for APTV’s 2024 earnings indicates an improvement of 23.7% from the year-ago reported figure. The same for revenues implies growth of 5.2%. The consensus mark for Aptiv’s 2024 earnings has moved 0.7% north in the past 30 days.

The bottom line of FTI Consulting outpaced estimates in each of the last four quarters, the average surprise being 27.8%. The Zacks Consensus Estimate for FCN’s 2024 earnings implies an improvement of 6.6% from the year-ago reported figure. The same for revenues indicates growth of 6.5% from a year ago. The consensus mark for FTI Consulting’s 2024 earnings has moved 0.9% north in the past 60 days.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Mastercard Incorporated (MA) : Free Stock Analysis Report

FTI Consulting, Inc. (FCN) : Free Stock Analysis Report

Aptiv PLC (APTV) : Free Stock Analysis Report

Duolingo, Inc. (DUOL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research