Nuvei (TSX:NVEI) has been on a wild ride over the past year. With shares soaring to as high as $59 and plunging to as low as $21 per share, such volatility can make investors jittery. But it also presents an intriguing opportunity for those willing to ride the waves of this Canadian fintech company. In this article, we’ll delve into what Nuvei stock does. We’ll look at its recent earnings stumble, and why now might just be the right time to consider Nuvei stock.

Nuvei stock is a Canadian fintech company at the forefront of the ever-expanding payment industry. Its modular, flexible, and scalable technology empowers leading businesses to accept next-generation payments. It offers a wide range of payout options, and access services such as card issuing, banking, risk management, and fraud prevention.

The payments processor has a global reach spanning over 200 markets operating in 47 regions, 150 currencies, and 634 alternative payment methods. Nuvei connects businesses to their customers like never before, simplifying the complexities of cross-border transactions and enhancing the payment experience.

The payment industry is in a phase of rapid expansion, driven by changing consumer preferences and technological advancements. As more businesses and consumers shift towards digital and mobile payment solutions, companies like Nuvei should capitalize on this trend.

Growth projections for the payment industry indicate a promising future. As per recent data, the global digital payments market is expected to grow at a compound annual growth rate (CAGR) of approximately 15.5% from 2021 to 2026, reaching a market value of $6.7 trillion by the end of the forecast period. Nuvei’s expertise in facilitating these transactions makes it a significant player in this evolving landscape.

Despite its promising position in the payments industry, Nuvei stock faced a significant setback following its recent earnings report. Philip Fayer, Nuvei’s Chair and CEO, acknowledged the company’s solid second-quarter results. Total volume and revenue increased by 68% and 45%, respectively. New customer wins and a growing pipeline across regions painted an optimistic picture of the business. However, a revised outlook for the year led to a 39% drop in the stock’s value.

One contributing factor to this downward trend was the longer-than-anticipated lag times in integrating new clients into Nuvei’s technology platform after contract signings. Additionally, the company decided to sever ties with a top-10 client – the reasons for which were not disclosed, further impacting its growth prospects. The market reacted to these developments, causing the stock’s precipitous decline.

Despite these challenges, Nuvei’s recent efforts to stabilize its position in the market are noteworthy. The company has been actively marketing itself on a global scale, partnering with the Mercedes-AMG PETRONAS Formula One team and securing the endorsement of Canadian actor Ryan Reynolds. However, these initiatives have yet to yield significant benefits for Nuvei stock.

Now might just be the right time to consider investing in Nuvei stock for several reasons. First, the recent dip in share prices presents an opportunity for savvy investors to buy into a promising fintech player at a more affordable valuation. As the global economy recovers, businesses will increasingly rely on payment solutions like those offered by Nuvei stock to facilitate their operations and expansion. The long-term prospects for the payment industry remain robust, and Nuvei is poised to capture its share of this growth.

Additionally, Nuvei stock’s commitment to debt repayment and returning excess capital to shareholders through a quarterly cash dividend demonstrates its financial stability and shareholder-friendly approach. These actions can instill confidence in potential investors, showcasing the company’s commitment to creating value for its stakeholders.

The post Nuvei Stock is on Fire This Year: Is it a Good Buy Today? appeared first on The Motley Fool Canada.

Before you consider Nuvei, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and Nuvei wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

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Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nuvei. The Motley Fool has a disclosure policy.

If you believe yourself to be a growth investor, then it’s imperative that you also find ways to cut tax implications in your portfolio. That way, you can see your positions snowball as fast as possible. One way to do that would be to use tax-advantaged investment accounts. For example, a Tax-Free Savings Account (TFSA) would be a great one to use for the everyday Canadian. This year, we were given an additional $6,500 of contribution room for TFSAs.

If you haven’t used up your contribution room yet, here are three growth stocks to invest in right now.

As far as Canadian growth stocks go, Constellation Software (TSX:CSU) is one of my favourite. This company isn’t very well known by those that aren’t familiar with the stock market. That’s because Constellation Software doesn’t operate a consumer-facing business. Instead, it operates in the background, acquiring vertical market software businesses. Upon acquisition, the company provides the coaching and resources necessary to turn those acquirees into exceptional business units.

Despite not being very well known by the general public, Constellation Software stock has had no issues growing over the years. This company held its initial public offering (IPO) in 2006. Since then, the stock has skyrocketed, gaining more than 15,000%. If you had invested $10,000 at the time of its IPO, you’d be a millionaire today. Over the past year, Constellation Software stock has gained 44%. To put this into perspective, the TSX has gained 5% over the same period.

goeasy (TSX:GSY) is another stock that I’m very excited about. I first covered this stock on The Motley Fool in 2020, citing a massive opportunity for the company. Thus far, that’s proven to be the case. Since that initial article was published, goeasy stock has gained about 100%. That’s not bad for a company that many don’t deem to be a growth stock.

Why do people not consider this a growth stock? Well, many inadvertently associate growth stocks with the term tech stock. Unfortunately, that kind of thinking could be hindering your portfolio’s performance. There’s no denying that goeasy’s business isn’t as exciting as the hot tech stocks of today. However, you can’t dispute its stock performance over the past three years.

Keeping with the theme of underappreciated growth stocks, I would suggest that growth investors consider buying shares of Alimentation Couche-Tard (TSX:ATD) in their TFSA today. This company operates more than 14,000 convenience stores across 24 countries and territories. If you didn’t know, Alimentation Couche-Tard also operates under different banners such as Mac’s, On the Run, Circle K, Daisy Mart, and more.

Like goeasy, the growth of this stock cannot be disputed. Over the past five years, Alimentation Couche-Tard stock has gained about 119%. That outpaces the TSX by a massive margin (22% over the same period). In addition, Alimentation Couche-Tard is an outstanding dividend distributor. A Canadian Dividend Aristocrat, this company belongs in every growth investor’s portfolio.

The post 3 Growth Stocks to Invest $6,500 in Right Now appeared first on The Motley Fool Canada.

Before you consider Alimentation Couche-Tard, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and Alimentation Couche-Tard wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

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Fool contributor Jed Lloren has positions in Constellation Software. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool recommends Constellation Software. The Motley Fool has a disclosure policy.

If you want to make it big in the stock market, focus on growth stocks. These stocks are generally younger and operate in important and emerging industries. If you can find one or two top stocks early, you could ride the next bull market to massive gains. However, finding those few stocks to add to your portfolio could be difficult due to a few reasons.

First, because growth stocks tend to be newer companies, there’s often a lot of competition in the space they operate in. Sometimes, it’s unclear which company (or companies) will come out on top. Second, there may be some issues regarding regulations and/or consumer appeal (in other words, market penetration). These hurdles could hinder a company’s growth. Finally, there often isn’t a lot in terms of a company’s history to look back at and make educated guesses about future performance.

Despite those issues, I think it’s still a very good and worthwhile idea to invest in growth stocks. In this article, I’ll discuss two stocks that could skyrocket in the next bull market. Both of these companies operate in very important industries, and growth-minded investors should take note now.

Many people, especially those that are younger, are more keen than ever to use technology for different tasks. This includes seeing a doctor. Telehealth is becoming such an important service for the average person. Anecdotally, I’ve seen many friends and family members use these kinds of services in the past year alone. These kinds of services may have only taken the world by storm during the COVID-19 pandemic, but there’s no doubt they’re here to stay.

If you’d like to make a play in this space, then consider investing in WELL Health Technologies (TSX:WELL). This company operates three distinct business lines. First, it operates 181 primary health clinics. Second, WELL Health offers a suite of telehealth services that prospective patients can easily use. Finally, the company operates an online marketplace where other healthcare providers can purchase software solutions to bolster their own telehealth solutions.

WELL Health may have started off as a Canadian company. However, it has managed to penetrate the massive American healthcare industry. If it could continue to expand in the future, then investors may be looking at the next big growth stock.

If you believe that the e-commerce industry has a lot of room to grow, then I’d say the digital payments industry does as well. With that said, Nuvei (TSX:NVEI) is a stock that I think growth investors should consider buying today. This company provides merchants with an omnichannel payments platform. Using its platform, merchants are able to accept online, mobile, in-store, and unattended payments. That breadth in Nuvei’s offering is, in my opinion, what separates it from its peers.

For the first year of Nuvei’s life on the public markets, it was thriving. From September 2020 to September 2021, the stock gained more than 270%. Unfortunately, times have been tough since. Thanks to a short report and a bull market, this stock has suffered immensely. Despite those issues, I strongly believe Nuvei has what it takes to reward shareholders once again.

The post Prediction: These 2 Stocks Could Skyrocket in the Next Bull Market appeared first on The Motley Fool Canada.

Before you consider Nuvei, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and Nuvei wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

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Fool contributor Jed Lloren has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nuvei. The Motley Fool has a disclosure policy.

As a pensioner, your income is likely already determined. Depending on how much you’re given, that could allow you to live a comfortable life in retirement, but perhaps not the life you wish you could live. That’s why it’s a good idea to bolster that income via the stock market. One way to do so is by investing in dividend stocks. In this article, I’ll discuss three Canadian dividend stocks that could be a pensioner’s best friend.

When looking for dividend stocks, in my opinion, one of the first companies you should always think of is Fortis (TSX:FTS). This company provides regulated gas and electric utilities to more than three million customers across North America. Generally, utilities are paid by customers on a monthly basis. That provides companies such as Fortis with a very stable and predictable source of revenue. Using that advantage, Fortis is able to plan dividend distributions much ahead of time.

We can see that Fortis has done an excellent job with that over the years. In fact, the company has maintained a 49-year dividend-growth streak. That’s the second-longest streak of its kind in Canada. Fortis has already announced its plans to continue growing its dividend through to 2027 at a rate of 4-6%. If you’re interested in just one dividend stock for your portfolio, don’t pass on Fortis.

Canadian National Railway (TSX:CNR) is the second Canadian dividend stock that pensioners should consider investing in. This may be one of the most recognizable companies in Canada. Canadian National Railway operates a railway network which spans from British Columbia to Nova Scotia. The company also operates as far south as Louisiana (in the United States). Altogether, Canadian National Railway operates nearly 33,000 km of track.

In Canada, the best dividend stocks are given the title of Canadian Dividend Aristocrat. In order to qualify, companies need to increase their dividend distribution for at least five consecutive years. Canadian National Railway blows that minimum requirement out of the water with its 26-year dividend-growth streak. It’s currently one of only 11 TSX-listed companies to maintain a streak that long.

Finally, pensioners should consider buying shares of Bank of Nova Scotia (TSX:BNS). This is a company that doesn’t really need much introduction. Bank of Nova Scotia is one of the Big Five Canadian banks. What makes it stand out, in my opinion, is its dedication to international growth — particularly, its presence in the Pacific Alliance. That’s a region which includes the countries of Chile, Columbia, Mexico, and Peru. It’s predicted that the region could experience much faster growth than Canada and the U.S. over the coming years.

Although Bank of Nova Scotia doesn’t boast the same kind of dividend-growth streak as the two aforementioned companies, this is still a great dividend stock in its own right. The company first paid shareholders a dividend in 1833. Since then, it has never missed a dividend distribution. That represents 190 years of continued dividend distributions.

The post These 3 Canadian Dividend Stocks Are a Pensioner’s Best Friend appeared first on The Motley Fool Canada.

Before you consider Bank of Nova Scotia, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and Bank of Nova Scotia wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

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Fool contributor Jed Lloren has positions in Bank Of Nova Scotia and Fortis. The Motley Fool recommends Bank Of Nova Scotia, Canadian National Railway, and Fortis. The Motley Fool has a disclosure policy.

It seems like stocks are bound to finish the year much lower as the September sag continues. Undoubtedly, when investors lose hope and expectations fall to the floor, you, as a contrarian investor, should be more than willing to be a net buyer of stocks. Despite higher interest rates and a potential 2024 Canadian recession, investors should stay the course with their long-term investment portfolios as we sail into a year that’s sure to be full of surprises.

Now, just because we could be dealt a recession does not mean investors are bound to lose big for the next year. Remember that stock markets are forward looking. And right now, it seems like markets are not looking forward to many things that are positive. Soft-landing and rate cuts seem more like wishful thinking every day this September selloff continues. Regardless, we’ll check in with two cheap stocks that could be in a spot to rally higher over the next year, as we move into a highly uncertain 2024.

Consider remote retailer North West Company (TSX:NWC) and financial services firm TMX Group (TSX:X), which could realistically take a shot at new highs over the coming quarters. Which stock is my preference? Let’s have a closer look at each.

North West Company is a firm that many Canadians may never have heard of. It’s a retailer behind various grocery stores, primarily located in the northwest region of the continent. The firm also has exposure to Hawaii and other intriguing regions that can only be considered remote. As you may know, operating in a rural area can come with challenges. North West does a great job of serving geographies that may not have been nearly as profitable for the big players in the grocery and retail space.

Amid inflation, North West has held its own. The stock sagged around 25% shortly after an underwhelming quarter back in June. Now, shares are on the mend, spiking since its September lows. As a stock known to zig as markets zag, North West is a great stock to play for a run to new highs, even as markets test a recession in the new year.

With a juicy 4.49% dividend yield and a 0.57 beta, entailing a lower correlation to the TSX Index, I’m enticed to buy shares while they’re going for 13.8 times trailing price to earnings. I think the stock is too cheap, as it looks to add to recent strength.

TMX Group is the firm behind the TSX, TSX Venture Exchange, and TSX Alpha Exchange. Indeed, the stock has been a relatively steady performer this year, with shares up over 7% year to date. At writing, shares are down around 6% from their highs.

With a 2.52% dividend yield and a modest 21.62 times trailing price-to-earnings multiple, I view the $8 billion firm as a solid buy, especially as the firm looks to consider moving into the cryptocurrency trading business. In any case, the beta is low, 0.49, entailing less correlation to this rocky market. By this time next year, I think shares could be at a new high. So, don’t let market volatility let you pass up on such an intriguing value play.

The post 2 Cheap Stocks That Could Hit New Highs in 2024 appeared first on The Motley Fool Canada.

Before you consider The North West Company, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in August 2023… and The North West Company wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 26 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks
* Returns as of 8/16/23

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Fool contributor Joey Frenette has no position in any of the stocks mentioned. The Motley Fool recommends North West and TMX Group. The Motley Fool has a disclosure policy.