The Afterpay (ASX:APT) share price has now soared 25% in the last month

The buy now, pay later provider’s stocks have shot up recently. What’s doing?
The post The Afterpay (ASX:APT) share price has now soared 25% in the last month appeared first on The Motley Fool Australia. –

Afterpay Ltd (ASX: APT) shares have been on a tear in the past month, gaining 25.1% for investors.

Just on Thursday alone, the buy now, pay later (BNPL) stock spiked up 3.03% to close the day at $123.65.

The Afterpay share price seems to be a microcosm of a shift on the ASX.

For 3 solid months from February, growth shares were getting absolutely hammered as investors turned to value shares that benefitted the most from the post-COVID ‘reopening’ trade.

For example, the S&P/ASX All Technology Index (ASX: XTX) fell more than 20% from 15 February to 19 May.

But ASX growth shares have since made a stunning comeback. The All-Tech index has gained more than 20% since that May trough.

So if you’re confused about whether value or growth is in favour, you’re not the only one.

Afterpay shares could have more upside to run

One team that’s not confused are the equities analysts at Macquarie.

The Motley Fool’s James Mickleboro reported Thursday that those experts reckon more explosive growth for the fintech is not out of the question over the next few years.

The broker rated Afterpay shares as a buy and slapped on a price target of $140.

The product pipeline is what seems to be impressing the analysts.

The Afterpay Money app will be launched in Australia soon. In the US, the fintech’s app last month onboarded a bunch of big-name retailers to allow customers to buy now, pay later even if the merchant is not affiliated with the service.

The 12 brands add up to “almost half” of all the e-commerce that takes place in the US.

Online shopping had not died out even as vaccinations have triggered a transition to post-pandemic life, according to Afterpay North America general manager Zahir Khoja.

“Consumers still want the convenience and flexibility of buying with the click of a mouse as part of their ‘new normal’”, he said in June.

“We are thrilled to continue to support our customers by allowing them to shop every day at their favourite brands with Afterpay for things they need and want in their lives.”

Afterpay was founded in 2014 by Nick Molnar and Anthony Eisen. The Afterpay share price made its ASX debut in 2016, on the back of an initial public offering (IPO) that sold stocks for $1 each.

The post The Afterpay (ASX:APT) share price has now soared 25% in the last month appeared first on The Motley Fool Australia.

Should you invest $1,000 in Afterpay right now?

Before you consider Afterpay, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Afterpay wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Top broker picks the emerging ASX tech shares with the biggest upside next month

3 stellar ASX 200 growth shares that could be buys in July

Why the Zip (ASX:Z1P) share price is rocketing 15% higher today
ASX 200 rises, Challenger soars, Zip jumps

The Afterpay (ASX:APT) share price stormed 5% higher today

Motley Fool contributor Tony Yoo owns shares of AFTERPAY T FPO and Macquarie Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!