What happened
Euronet Worldwide (EEFT 0.58%) outpaced a booming market last year as the stock jumped 53% compared to a 29% spike in the S&P 500, according to data provided by S&P Global Market Intelligence.
The stock had been doing better earlier in the year, having risen by more than 60% by July. Yet shareholders of the fintech specialist still nearly doubled the wider market's return.
Image source: Getty Images.
So what
Euronet joined other payments processing and "war on cash" stocks as outperformers in 2019 due to rising optimism that the industry is operating in an ideal selling environment. There's plenty of evidence of strong demand trends, for example, with ATM transactions rising 13% in the third quarter. Euronet also benefited; it saw rising revenue in its digital and money-transfer segments last quarter, which supported an increase in net income of more than 30% to $138 million.
Now what
CEO Michael Brown and his team are projecting more robust earnings growth in the fiscal fourth quarter as profits jump to $1.61 per share from $1.37 per share last year. The stock's wider rally will depend on positive global economic momentum into 2020 and on investors' continued attraction to the fintech space.
