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C$1308.36 -14.2  -1.1%

Last Trade - 14/08/20

Sector
Technology
Size
Large Cap
Market Cap £91.93bn
Enterprise Value £88.86bn
Revenue £1.59bn
Position in Universe 1st / 2682

BUZZ-Afterpay may hit 10 mln active customers in FY20 - Citi

Fri 12th June, 2020 12:37am
** Citi estimates Australian buy-now-pay-later (BNPL) firm Afterpay APT.AX could reach 10 million active customers in FY 2020 amid rapid growth in the booming U.S. market ** Brokerage says its analysis of data from statistics and analytics website SimilarWeb points to accelerating trends for Afterpay in the United States and UK in May ** "Trends in May point to a benign credit environment supported by government stimulus measures" ** Using website traffic and app downloads as a proxy, Citi sees 10 mln active APT customers for 2020, beating its estimate of 9.3 mln customers ** Also forecasts 2020 gross merchandise value for APT of $10.5 bln, above its estimate of $9.8 bln ** Afterpay had 8.4 mln active customers at Q3-end and last month reported that active U.S. customers had crossed 5 mln urn:newsml:reuters.com:*:nGLF8RPZ0X ** APT defines an active customer as anyone who has transacted with it in the last 12 months ** Citi adds that Canadian firm Shopify's SHOP.TO planned entry into the BNPL space could impact net transaction margins, potentially prompting APT to continue to innovate its product offering ** Shares of Aussie BNPL firms have surged in recent months due to a combination of coronavirus-driven surge in online shopping and deals to enable expansion in key markets urn:newsml:reuters.com:*:nL4N2CM01D urn:newsml:reuters.com:*:nL4N2DF196 <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Aussie BNPL firms sky-rocket since mid-March https://tmsnrt.rs/2XQobGe ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Shashwat Awasthi in Bengaluru; Editing by Tom Brown) ((Shashwat.Awasthi@thomsonreuters.com))
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