BNPL: From Hip and Sizzle to Zip and Sezzle
The Buy Now Pay later mess got even messier on Tuesday when the ZIP - Sezzle merger fell apart and the market realised the Commonwealth Bank’s stake in European giant Klarna had collapsed.
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Zip Co Limited.
Zip is a leading player in the digital retail finance and payments industry, offering point-of-sale credit and digital payment solutions.
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News
One Hummdinger of a Boardroom Spill
The acrimony on the Humm Group board over the failed attempt to sell its consumer finance business spilled over in the shape of wholesale boardroom changes on Wednesday.
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Apple Entry Sends BNPL Sector into Panic Mode
The already struggling BNPL sector took a further hit on the ASX Tuesday after Apple announced a major expansion of Apple Pay to Apple Pay Later, a form of buy now pay later.
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Further Rationalisation Afoot in BNPL Space
ZipCo is seeking to buy rival Sezzle in a $491 million all share deal that Zip claims will accelerate its path to profitability, even in the face of tougher conditions in the once buoyant sector.
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Profit Briefs: APT, Z1P, WTC
Results from three key tech stocks - Afterpay, Zip Co - and Wisetech Global tell an interesting story about the future of the space in Australia once Afterpay is no more.
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Analyst Views
Z1P – ZIP CO LIMITED UBS rates the stock as Sell
Sell rating and $0.45 target price are unchanged.
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Z1P – Morgans rates the stock as Add
Morgans makes significant downgrades to FY22 and FY23 EPS estimates of more than -50% and lowers its target price to $3.94 from $7.54. Add retained.
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Z1P – UBS rates the stock as Sell
UBS retains a Sell rating and raises the target to $6.50 from $6.40.
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Z1P – Citi rates the stock as Neutral
Citi sees the third round of stimulus in the US as positive for the BNPL sector as it could support consumer spending. The Neutral rating and $11.35 target are unchanged.
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