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Fleetcor Technologies Inc – Best Technology Stocks To Invest In

Fleetcor helps businesses manage and pay their expenses in a seamless manner. Using Fleetcor’s products and services, companies can digitize, automate, and control payments on behalf of their suppliers and employees. Fleetcor’s product categories include corporate payments, fuel payments, tolls, lodging, gifting, and other services. Fleetcor is an American company but has operations in Latin America, Asia Pacific, and Europe. Its customers include oil companies, petroleum marketers, governments, commercial fleets, and corporate entities. Fleetcor was in the Top 40 Innovative Tech Companies in Georgia list in 2020. The company is based out of Atlanta, Georgia.

Fleetcor’s Segment Performance During Q32020

Fleetcor released its Q32020 earnings in early November 2020. Total revenues were down 14% year-on-year from $681 million to $585 million. Fuel revenues were also down 14% from $295 million to $255 million. Corporate payment revenues went from $120 million in Q32019 to $106 million in Q32020. Toll revenues were also down due to the lack of travel, falling from $88 million to $67 million. Lodging revenues weren’t hit as hard, dropping only 6% from $56 million to $53 million. Gift revenues dropped the most at 19%, falling from $48 million to $39 million. Other revenues were down 11% from $72 million to $64 million.

Top Technology Stocks To Invest In

Fleetcor’s stock closed at $275 on 13th January 2021. The stock is down 6.9% for the preceding 12 months. It isn’t the hottest technology stock in terms of stock performance. However, with the opening up of the global economy, long term growth looks more likely in the future. Technology stocks like Zoom, Adobe, and Netflix did quite well in the year 2020. Zoom went from $76 to $364 over the past 12 months. Netflix went from $338 to $507 while Adobe went from $344 to $472.  Hardware stocks like Broadcom also had a decent run, rising 50% or more while the pandemic raged on. All of these stocks have comfortably beaten the Nasdaq-100, the index that rose 42% since January 2020.

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