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SÃO PAULO – The dispute in the acquiring sector is more and more fierce. Cielo, which closed the year 2018 with the worst stock market downturn (-58.15%), still remains leader in the sector and has a large scale thanks to the distribution of BB and Bradesco [19659003] and shows no sign of losing the most important market share status to another company. But the competitors are following it very closely – and there is no prospect of ceasing fire in the small machinery war.
On Friday, Stone released a very satisfactory operational forecast: the total number of customers increased by 104.1% in 2018 compared with the previous year, reaching 267,900. Only in the fourth quarter, there were 33,500 additional customers, and the total volume of payments amounted to $ 26.6 billion in the same period, and the annual increase was 73.8%.
Monday (22), after the publication of the figures, the company's share, listed on the Nasdaq stock exchange in the United States, jumped 7.41%. Since its IPO, when it peaked, paper fell to 46.69%. Now he sees a cumulative valuation of 32.99%.
Meanwhile, PagSeguro finalized the purchase of Banco Brasileiro de Negócios (BBN) last Friday (18). The owner of Moderninha intends to expand and the approval of the Central Bank gives the company a space to further lower its rates, with funding internally ] and a simplification of processes. The company's share, quoted in New York, rose by 5.41% in the second.
For its part, GetNet de Santander has launched an e-commerce platform for small and medium-sized retailers wishing to gain a foothold in the market.
But what about Cielo?
The truth is that for the moment, even with the news of the three main competitors, Cielo has not yet felt the negative effects of this year. Shares on Monday (21) closed with an increase of 2.21%. But it is a fact that society has already lost space with increasing competition in the market.
An badyst who monitors the sector says that the 19.80% increase from one year to the next is only a correction from the big falls of the year. 39, last year. " The market is responsible for the valuation of the company, which, despite the loss of market shares and margins, remains the leader in the sector.It is questioned as to whether the fall of last year was not exaggerated, which explains the reaction of the action in 2019. "
In addition, he said, this year could be positive for the sector in general. " In December, retail sales rebounded for the first time in four years this month, according to an index released by Cielo, and the Central Bank has issued a debt market settlement that can benefit investors. acquirers, preventing the requirement of exclusivity (lockdown).
In fact, the sector is facing a series of challenges with companies that are attacking everywhere to attract more customers.
"Cielo is confident in the fact that he will regain market share in the small and medium-sized business segment and gain ground in that of microentrepreneurs because he has aggressively cut prices," says Morgan Stanley's team of badysts.
In light of this, the bank estimates that Cielo's total market share could further decline in 2019 as the company risks losing some of its customers. segment of large companies. "The company's pricing strategy is also aimed at consolidating the market, which could reduce the profitability of the sector as a whole," the document added.
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