Joint Stock Company Kaspi.kz (KSPI) Stock Price, News & Analysis

Company Overview

Joint Stock Company Kaspi.kz is a leading financial technology and e-commerce group headquartered in Almaty, Kazakhstan. The company has built one of the country’s largest digital ecosystems, offering a suite of integrated services that span consumer banking, payments, online marketplaces and merchant acquiring. Through its mobile and web platforms, Kaspi.kz aims to simplify everyday financial and shopping activities for individuals and businesses across Kazakhstan.

The company’s core offerings include digital banking solutions such as deposit accounts, digital wallets and money transfers, alongside consumer lending products that enable point-of-sale financing and “buy now, pay later” purchases. Kaspi.kz also operates a rapidly growing online marketplace where users can browse and purchase goods ranging from electronics to clothing, with order fulfillment supported by a network of logistics partners. Its payments division processes transactions for merchants, utilities and public services, further cementing the group’s role as a key payments infrastructure provider in the region.

Founded in 2001 as Kaspi Bank, the group gradually expanded its digital footprint beginning in the early 2010s with the launch of mobile banking services. In October 2020, Kaspi.kz completed an initial public offering on the London Stock Exchange, marking one of the largest fintech listings out of Central Asia. In March 2021, the company further broadened its investor base through a secondary listing on the Nasdaq Global Select Market under the ticker symbol KSPI.

Kaspi.kz’s operations are principally focused on Kazakhstan, where it serves a diverse customer base of retail clients, small and medium-sized enterprises and large corporate partners. The company is governed by an independent board of directors and managed by an experienced executive team based in Almaty. Through continuous investment in technology and user experience, Kaspi.kz seeks to maintain its leadership in digital finance and commerce across its core market.

Key Stats

• Today's Range: $73.38 to $75.08
• 50-Day Range: $73.32 to $97.71
• 52-Week Range: $72.22 to $116.55
• Volume: 527,655 shs
• Average Volume: 785,116 shs
• Market Capitalization: $14.88 billion
• P/E Ratio: 6.84
• Dividend Yield: 2.29%
• Price Target: $118.25
• Consensus Rating: Hold

Joint Stock Company Kaspi.kz Stock Analysis - MarketRank™

Joint Stock Company Kaspi.kz scored higher than 84% of companies evaluated by MarketBeat, and ranked 58th out of 319 stocks in the business services sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.0 / 5
• Analyst Rating: Hold

Consensus Rating

Joint Stock Company Kaspi.kz has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 3 buy ratings, 2 hold ratings, and 1 sell rating.

Upside Potential

Joint Stock Company Kaspi.kz has a consensus price target of $118.25, representing about 58.6% upside from its current price of $74.58.

Amount of Analyst Coverage

Joint Stock Company Kaspi.kz has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 15.64%

Earnings Growth

Earnings for Joint Stock Company Kaspi.kz are expected to grow by 15.64% in the coming year, from $11.32 to $13.09 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Joint Stock Company Kaspi.kz is 6.87, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 41.09.

Price to Earnings Ratio vs. Sector

The P/E ratio of Joint Stock Company Kaspi.kz is 6.87, which means that it is trading at a less expensive P/E ratio than the Business Services sector average P/E ratio of about 17.86.

Price to Book Value per Share Ratio

Joint Stock Company Kaspi.kz has a P/B Ratio of 4.50. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

0.38% of the float of Joint Stock Company Kaspi.kz has been sold short.

Short Interest Ratio / Days to Cover

Joint Stock Company Kaspi.kz has a short interest ratio ("days to cover") of 1.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Joint Stock Company Kaspi.kz has recently decreased by 13.52%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

Joint Stock Company Kaspi.kz pays a meaningful dividend of 2.29%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Joint Stock Company Kaspi.kz does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Joint Stock Company Kaspi.kz is 15.69%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Joint Stock Company Kaspi.kz will have a dividend payout ratio of 13.06% next year. This indicates that Joint Stock Company Kaspi.kz will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

0.38% of the float of Joint Stock Company Kaspi.kz has been sold short.

Short Interest Ratio / Days to Cover

Joint Stock Company Kaspi.kz has a short interest ratio ("days to cover") of 1.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Joint Stock Company Kaspi.kz has recently decreased by 13.52%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 1.1 / 5
• News Sentiment: -0.10

News Sentiment

Joint Stock Company Kaspi.kz has a news sentiment score of -0.10. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.55 average news sentiment score of Business Services companies.

News Coverage This Week

MarketBeat has tracked 2 news articles for Joint Stock Company Kaspi.kz this week, compared to 5 articles on an average week.

Search Interest

Only 7 people have searched for KSPI on MarketBeat in the last 30 days. This is a decrease of -46% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Joint Stock Company Kaspi.kz to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Joint Stock Company Kaspi.kz insiders have not sold or bought any company stock.

Percentage Held by Institutions

Only 32.20% of the stock of Joint Stock Company Kaspi.kz is held by institutions.

KSPI Stock Analysis - Frequently Asked Questions

How have KSPI shares performed this year?

Joint Stock Company Kaspi.kz's stock was trading at $94.71 at the beginning of the year. Since then, KSPI shares have decreased by 21.3% and is now trading at $74.58.

When did Joint Stock Company Kaspi.kz IPO?

Joint Stock Company Kaspi.kz (KSPI) raised $1 billion in an initial public offering (IPO) on Friday, January 19th 2024. The company issued 11,300,000 shares at $92.00 per share.

Who are Joint Stock Company Kaspi.kz's major shareholders?

Joint Stock Company Kaspi.kz's top institutional shareholders include Renaissance Capital LLC (0.04%).

How do I buy shares of Joint Stock Company Kaspi.kz?

Shares of KSPI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Joint Stock Company Kaspi.kz own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Joint Stock Company Kaspi.kz investors own include Baidu (BIDU), MKS (MKSI), Arcos Dorados (ARCO), Berkshire Hathaway (BRK.B), British American Tobacco (BTI), CrowdStrike (CRWD) and Datadog (DDOG).

Company Calendar

• Today: 10/21/2025
• Next Earnings (Estimated): 11/10/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Business Services
• Industry: Financial Transaction Services
• Sub-Industry: Business Services
• Current Symbol: NASDAQ:KSPI
• Previous Symbol: NASDAQ:KSPI
• CIK: 1985487
• Web: kaspi.kz
• Phone: (727) 356-0629
• Fax: N/A
• Employees: 9,637
• Year Founded: N/A

Price Target and Rating

• Average Price Target for Joint Stock Company Kaspi.kz: $118.25
• High Price Target: $140.00
• Low Price Target: $96.00
• Potential Upside/Downside: +58.6%
• Consensus Rating: Hold
• Rating Score (0-4): 2.33
• Research Coverage: 6 Analysts

Profitability

• EPS (Trailing Twelve Months): $10.90
• Trailing P/E Ratio: 6.84
• Forward P/E Ratio: 6.59
• P/E Growth: N/A
• Net Income: $2.18 billion
• Net Margins: 34.82%
• Pretax Margin: 45.09%
• Return on Equity: 60.53%
• Return on Assets: 11.57%

Debt

• Debt-to-Equity Ratio: 0.03
• Current Ratio: 1.01
• Quick Ratio: 1.01

Sales & Book Value

• Annual Sales: $4.82 billion
• Price / Sales: 3.09
• Cash Flow: $9.89 per share
• Price / Cash Flow: 7.54
• Book Value: $16.56 per share
• Price / Book: 4.50

Miscellaneous

• Outstanding Shares: 199,500,000
• Free Float: N/A
• Market Cap: $14.88 billion
• Optionable: Optionable
• Beta: 0.95