Shift4 Payments Inc, a leading global AI company, is projecting impressive revenue growth in 2023 amidst the global AI boom. As the AI revolution takes hold, the company is poised to capitalize on the growing market, which is forecasted to reach over $1.81 trillion by 2030, according to Grand View Research.
Shift4 Payments Inc has consistently outperformed its competitors in the wider industry, with its shares boasting a 102.16% growth rate this year. While the company’s shares have experienced a slight decline of -0.35% over the past six months, its growth outlook for the 2023 fiscal year revenue remains promising. Analysts estimate an 85.10% growth for the current quarter and a 54.90% growth for the next quarter. Moreover, the company’s revenue growth from the last financial year is estimated to be 31.30%.
Analysts have set an average revenue estimate of $757.38 million for the current quarter and $781.43 million for the next quarter. This represents a significant increase compared to the year-ago sales figure of $537.7 million for the current quarter and $547 million for the next quarter. Analysts anticipate sales to grow by 40.90% for the current quarter and 42.90% for the next.
While the earnings growth for 2023 is projected to be a modest 106.39%, the company’s earnings are expected to increase by 49.09% over the next five years. This positive outlook has investors eagerly awaiting the release of Shift4 Payments Inc’s next earnings report on November 08.
In terms of ownership, insiders hold 1.42% of the company’s shares, while institutions account for 99.56% of the total. Notably, Vanguard Group Inc is the largest institutional holder with over 5.5 million shares, worth more than $373.19 million. Wellington Management Group, LLP is another major holder, with over 5.11 million shares valued at over $347.18 million.
Two top Mutual Fund holders are Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund. The former holds approximately 3.53% shares, totaling 2.0 million shares worth $137.67 million, while the latter owns 1.79 million shares worth $121.89 million, representing around 3.18% of the company’s outstanding stock.
As Shift4 Payments Inc positions itself in the thriving AI market, investors are optimistic about the company’s potential for growth. The projected revenue growth, coupled with strong institutional support, signals a promising future for the company. With the global AI boom in full swing, Shift4 Payments Inc is well-positioned to capitalize on the transformative power of artificial intelligence.
