Fiserv comments ‘concerning,’ but selloff ‘seems overblown,’ says Baird

Baird says Fiserv (FI) presented at a conference today and provided some commentary on Clover volume growth in Q2. The company expects Clover reported volume growth in Q2 to be similar to Q1’s 8%, the analyst tells investors in a research note. Baird expected Clover volume to reaccelerate to low double-digits in Q2 after lapping the leap day headwind, some slight Easter timing benefit, and currency improving. While the lack of Q2 reported volume growth acceleration is “concerning,” the stock move today “seems overblown,” contends Baird. The firm doubts much changes to Fiserv’s total financial picture and notes the company’s 2025 guidance for $3.5 billion in Clover revenue was reiterated. Baird has an Outperform rating on Fiserv with a $250 price target The stock in midday trading is down 14% to %163.43.