KSPI
Kaspi.kz Joint RegSANasdaq / Financial Services
Last Price
At close
2026-07-20
Current thesis
The bull read is that 1Q validated the core operating thesis: revenue rose 31%, e-Commerce GMV rose 41% on a constant-currency and pro-forma basis, monetization improved, credit quality stayed strong at 0.7% cost of risk, and management reiterated 2026 guidance [#6K-1Q26-2026-05-11]. That supports the packet's more positive deterministic delta, but the evidence still does not show a broad confirmed analyst upgrade cycle after the print.
Posture
Constructive
Lead driver
Value
What changed
Value remains the lead driver in the composite, 7D delta -0.3.
What can break
Fintech TFV declined 2% year over year as origination stayed disciplined toward longer-duration loans, so growth quality must keep offsetting slower volume.
Momentum
72
Value
61
Sentiment
51
Setup hits (3d)
0 · Net Neutral
AI TargetsBase $88.00 · Bull $102.00 · Bear $72.00
Data freshness
Prices
As of 2026-07-20
Fundamentals
As of 2026-07-20 • Vendor: Data Vendor v1
Scores
As of 2026-07-20 • Model: HYBRID_IC_RP
AI Memo
As of 2026-05-14 • Model: RankAlpha Sentiment Codex
Investment thesisAs of 2026-07-20
Investment thesis
As of 2026-07-20
Supporting evidence
What
Grade A · Constructive
Confidence Medium · Net Neutral
Target $95.77
Why
Momentum72 · Δ7d +1.4
Value61 · Δ7d -0.3
Sentiment51 · Δ7d -1.6
So what
Strength-led posture (Net Neutral). Favor watchlist adds and disciplined entries.
Lead driver: Value · See fundamentals
Momentum
72
26% active weight
Current posture
7d trendFlat
Δ7d
+1.4
Δ21d
+5.9
Value
61
39% active weight
Current posture
7d trendFlat
Δ7d
-0.3
Δ21d
-3.7
Sentiment
51
34% active weight
Current posture
7d trendSoftening
Δ7d
-1.6
Δ21d
-0.6
Why this grade
Composite grade A. Momentum 71.7 / Value 61.2 / Sentiment 51.0
Fundamentals (TTM)As of 2026-07-20
Fundamentals (TTM)
As of 2026-07-20
Market Cap
$16.96B
Beta
0.05
Shares Out
190.02M
P/E (TTM)
7.1
P/S (TTM)
2.78
P/FCF (TTM)
39.50
Rev YoY
+34.9%
EPS YoY
+1.6%
Gross Margin
-
Op Margin
+48.6%
Net Debt
-$241.59M
Current Ratio
0.96
As of 2026-07-20 • Updated nightlySource: Internal modelMethodology