Dec 09, 2025 • Finviz
SOMEWHAT-BEARISH
JPMorgan Noted Kaspi.kz's (KSPI) Softening 2026 Fintech Outlook, Lowered PT
JPMorgan lowered its price target for Kaspi.kz (KSPI) to $88 from $96, maintaining a Neutral rating due to a softened 2026 fintech outlook. The firm anticipates slowing real growth in the sector, but Kaspi.kz reported a 20% year-over-year revenue increase in Q3 2025 (excluding Turkey), driven by strong Fintech segment growth and advertising revenue increases. The company also highlighted ongoing platform enhancements and new features like "Pay by Palm."
Dec 03, 2025 • Finviz
SOMEWHAT-BULLISH
Joint Stock Company Kaspi.kz (KSPI) Updates About Rabobank A.Ş. Acquisition, Here's What You Need to Know
Joint Stock Company Kaspi.kz (KSPI) has provided an update on its acquisition of Rabobank A.Ş., now expecting to close the transaction in mid-2026 pending regulatory approvals. The company also announced strong Q3 2025 results, with consolidated revenue up 20% year-over-year, despite impacts from smartphone supply shortages. KSPI, a provider of payments, marketplace, and fintech solutions, saw its share price rise by 5% following these announcements.
Dec 01, 2025 • The Globe and Mail
BULLISH
Update on the acquisition of Rabobank A.Ş.
Kaspi.kz announced an update on its acquisition of Rabobank A.Ş., initially signed on March 27, 2025. The closing of the transaction is now expected in mid-2026, pending regulatory approvals and customary closing conditions. Kaspi.kz emphasizes its Super App model and current ownership of a significant stake in Hepsiburada in Türkiye.
Nov 28, 2025 • GlobeNewswire
NEUTRAL
Update on the acquisition of Rabobank A.Ş.
JSC Kaspi.kz provided an update on its acquisition of Rabobank A.Ş., initially agreed upon in March 2025. The closing of the transaction is now expected in mid-2026, pending regulatory approvals and customary closing conditions. Kaspi.kz intends for this acquisition to further its mission of improving lives through innovative mobile products and services via its Super App model.
Nov 12, 2025 • The Globe and Mail
BULLISH
Kaspi.kz Reports Strong Q3 2025 Financial Results Amidst Market Challenges
Kaspi.kz announced strong financial results for Q3 2025, with a 20% year-over-year revenue increase and a 12% rise in net income, despite navigating challenges like smartphone supply disruptions and regulatory changes. The company is innovating with new services like Kaspi Alaqan and expanding advertising, showcasing confidence in its future with a $100 million ADS repurchase program. Analyst ratings are positive, with an average "Buy" and an $85.00 price target.
Oct 22, 2025 • Finviz
SOMEWHAT-BULLISH
Joint Stock Company Kaspi.kz (KSPI): A Bull Case Theory
This article summarizes a bullish thesis on Joint Stock Company Kaspi.kz (KSPI), a leading Kazakhstan fintech company. Despite its dominance in digital finance in Kazakhstan, strong financial metrics, and international expansion efforts, the stock trades at a low valuation. However, the bull case is tempered by significant risks including currency volatility, geopolitical uncertainties, and challenges related to its Turkish expansion.