Splitit’s Share Prices Rises Over 24% on Record-breaking Quarter

Since announcing record quarter results, Afterpay’s rival Splitit Payments Ltd [ASX:SPT] has soared by 800% following the six weeks since its ASX debut and continues to grow across its key performance metrics following its first quarter this year.

At the time of writing, Splitit’s share price is trading at $1.16, climbing 24.86%.

Related: find out whether Splitit is one of Aussie stock picker Sam Volkerings’s top 4 stock picks in 2019.

Splitit’s share price reflects performance

Splitit’s first quarter performance improved impressively this year, considering that the March quarter is usually sluggish when it comes to industry-wide sales.

The instalment payment company saw a 103% increase year-on-year (57 new Active Merchants), to bring the total (year-on-year) of Active Merchants to 437, operating in 27 countries.

Meanwhile, Merchant transactions were up 168%.

The 2019 Quarter results saw Splitit acquire 42,000 new shoppers, which put its Total Number of Unique Shoppers at the end of Q1 2019 to 16,000 — a quarterly increase of 36%.

Splitit’s share price 2019 outlook

As we move further into 2019, Splitit Payments is looking to continue its growth development.

Splitit has processed over 160,000 purchases with $128 million of Underlying Merchant Transaction, without incurring losses or bad debt during operating to date.

The company has also signed several high turnover merchants, which are set to go live in the second quarter of 2019.

Investors can expect that Splitit’s robust and low risk business model will continue to affect Splitit’s share price positively in future.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

PS: In a brand-new Money Morning report titled ‘The Four Best ASX Stocks for 2019’, top Aussie stock picker Sam Volkering reveals four Aussie stocks he believes could be top performers in 2019, 2020 and beyond. You can read more about it here for free.


Ryan Clarkson-Ledward is one of Money Morning’s junior analysts. Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects. Ryan’s primary focus is assisting Sam Volkering with background research and insight for readers by dissecting the latest events affecting the world. Working closely with Sam, they explore the latest in small-cap and technology stocks as well as cryptocurrency opportunities. You can find Ryan’s contributing research, developments, and supporting information across several e-letters, including:


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