Shares of Equifax Inc. EFX have gained 44% year to date, outperforming the 35.8% rally of the industry it belongs to.
The company recently announced a data and analytics collaboration with FinTech Sandbox, a Boston-based nonprofit. Sandbox provides free access to critical data and resources to FinTech startups with a view to promote financial technology and innovation.
As part of the collaboration, Equifax will help startups access its consumer and commercial data, and develop new products. The company will also provide analytical support to Sandbox by giving it access to its Ignite portfolio of premier data and advanced analytics solutions. Ignite supports full analytical lifecycle utilizing a single connected suite of advanced analytical processes, technology and tools.
Sharla Godbehere, AtlFi and FinTech leader at Equifax stated, “Being a FinTech company, we understand the challenges of bringing all the pieces together to make a product work. This is an exciting opportunity to partner and share our personal insights and experience with these startups."
Equifax’s offerings have been of great importance to its customers. Product innovation and continued investments in expansion of Ignite analytics and linking platforms globally are top priorities for Equifax and part of its technology transformation endeavor. We believe that a solid product portfolio and a clear understanding of the sector will keep Equifax ahead of its peers.
Zacks Rank & Stocks to Consider
Equifax currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the broader Zacks Business Services sector are Navigant Consulting NCI, NV5 Global NVEE and FLEETCOR Technologies FLT. While Navigant Consulting sports a Zacks Rank #1, FLEETCOR and NV5 Global carry a Zacks Rank #2 (Buy).
Long-term expected EPS (three to five years) growth rate for Navigant Consulting, FLEETCOR and NV5 Global is 13.5%, 15.4% and 20%, respectively.
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Equifax, Inc. (EFX) : Free Stock Analysis Report
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