** Shares of payments firm Fiserv FI.N plunge as much as 15.8%; last down 12.6% at $165.95
** Clover volume growth expected to be relatively stable in Q2, vs Q1 - says Fiserv CFO Bob Hau, at a J.P.Morgan conference in Boston
** Clover is FI's cloud-based, point-of-sale and business management platform
** Management's expectations on Clover volume growth drove stock pressure - JPM analyst Tien-tsin Huang
** Clover has been a key focus area for investors after growth slowed down to 8% in Q1 from 14% in Q4 2024
** FI in April attributed Q1 growth slowdown to a number of factors, including difficult comparisons against gateway conversion and spending slowdown in Canada, Clover's largest international market
** Thirty-one of 36 brokerages rate the stock "buy" or higher, three "hold" and two "sell" or lower; with a median PT of $236, according to data compiled by LSEG
** As of last close, FI stock down 7.6% YTD
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.