Shift4 Payments (FOUR) stock is rising today after the fintech firm announced a new partnership with the San Antonio Spurs of the National Basketball Association (NBA). Known for its work in the payment processing space, Shift4 caters primarily to the hospitality, restaurant, and retail spaces. Now it is venturing into professional sports. As Shift4 noted in a statement released this morning, it has taken a position as the team’s “integrated payment technology partner.”
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What’s Happening with Shift4 Payments Stock Today?
Shift4 Payments stock has been trending upward since markets opened on news of its new partnership. Shares rose in premarket trading, and they haven’t slowed down in intraday hours. As of this writing, FOUR stock is up 5% for the day and looks primed to continue on this positive trajectory. This comes at a good time, as Shift4 spent the past week gradually declining.
That said, over the past two quarters, FOUR stock has risen 41%, displaying impressive resiliency amid volatile market conditions. Now the company has given investors a positive catalyst, expanding into a lucrative industry with high growth potential. The Spurs franchise will integrate Shift4’s payment processing technology into its transactions at both the Frost Bank Stadium basketball arena and the Toyota Field soccer stadium. This will include kiosks powered by artificial intelligence (AI), which could make FOUR stock a smart play for investors seeking AI market exposure.
Joe Loomis, SVP of Finance, Technology & Culinary Operations at Spurs Sports & Entertainment, highlights Shift4’s “solution-oriented approach to providing integrated commerce technology” as a key reason for the team’s decision to partner with the fintech company. If it goes well, other teams could opt to follow this example and begin using Shift4’s technology, a likely catalyst for FOUR stock.
Wall Street Is Highly Bullish on FOUR Stock
Wall Street sentiment toward Shift4 Payments has been trending upward lately. Analysts have a Strong Buy consensus rating on FOUR stock based on 20 Buys and one Holds assigned in the past three months, as indicated by the graphic below. After a 57% rally in its share price over the past year, the average FOUR price target of $111.78 per share implies 10% upside potential.
See more FOUR stock analyst ratings
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
