KSPI Should I Buy
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Kaspi.kz AO (KSPI) is not a strong buy at the moment for a beginner investor with a long-term strategy. While the company shows positive revenue growth and strategic investments from Tencent, the declining net income and EPS, neutral insider and hedge fund activity, and lack of strong trading signals suggest waiting for a clearer entry point.
The MACD is positive and contracting, RSI is neutral at 56.566, and moving averages are converging. The stock is trading near its pivot level of 85.034, with resistance at 93.93 and support at 76.137. No strong bullish or bearish signals are present.
Tencent's strategic investment in Kaspi.kz and the company's focus on enhancing its shareholder structure signal long-term growth potential. Revenue increased by 20.89% YoY in Q4 2025.
Net income and EPS have declined by -8.82% and -6.85% YoY, respectively. Insider and hedge fund activity is neutral, and there are no significant trading trends. Analyst ratings are mixed, with a recent downgrade and only a modest price target increase.
In Q4 2025, revenue grew by 20.89% YoY to 618.89 billion, but net income dropped by -8.82% YoY to 284.38 billion, and EPS declined by -6.85% YoY to 1469.36.
Susquehanna recently raised the price target to $95 from $87, citing Tencent's investment as validation of Kaspi.kz's strategy. However, the same firm downgraded the stock to Neutral in February 2026, reflecting mixed sentiment.
