Kaspi’s Q3 earnings report could reverse its 24% stock slump—here’s why
Kaspi, the Kazakhstan-based fintech giant, is set to release its quarterly earnings report on November 10. Analysts predict a significant revenue surge of 40.4% to $1.79 billion, with earnings per share estimates ranging from $2.92 to $4.31. Investors are eagerly awaiting the report, hoping it will signal an end to the company's recent losing streak.
Kaspi's stock has been volatile in recent months. It hit a 52-week low of $71.71, and has shed over 5% of its value in the past two weeks, with year-to-date losses of 24%. Technical charts and recent price action suggest a clear sell signal. However, institutional investors such as BlackRock and Vanguard have increased their stakes in Kaspi during the third quarter, indicating their confidence in the company's strong market position and growth prospects. Sumitomo Mitsui Trust Group and Renaissance Capital have also boosted their holdings in Kaspi.
Despite the recent stock market performance, Kaspi is expanding its services. It is launching a palm-based payment system, Kaspi Alaqan, in Almaty this December. The company's upcoming earnings report is expected to show a 40% revenue growth.
Kaspi's earnings report on November 10 will be closely watched by investors hoping for a turnaround in the company's fortunes. While the stock has been volatile and technical indicators suggest caution, institutional investors' confidence and Kaspi's expansion into palm-based payments offer reasons for optimism.
