Affirm Holdings (NASDAQ:AFRM) shares jumped 10% in after-hours trading after the buy now, pay later financing giant reaffirmed its optimism for the coming fiscal year, eyeing an adjusted operating profit in FY 2024. The company is setting its sights high, forecasting a gross merchandise volume (GMV) surpassing $24B. On the revenue front, it’s looking to replicate the 7.9% GMV percentage from FY 2023, suggesting an FY 2024 revenue starting point of $1.90B, which hovers around Wall Street’s $1.92B estimate.
Taking a closer look at its Q4 performance, Affirm reported revenue of $445.8M, outpacing expectations of $406.1M. Q4 earnings per share stood at -$0.69, beating estimates of -$0.86. Affirm’s card, meanwhile, is on a roll – adding approximately 75K active cardholders every month since May’s end. By mid-August, a whopping 300K people had this card in their wallets. Furthermore, adjusted operating income came in at $14.7M, soaring from -$29.3M in Q4 2022.
Is AFRM Stock a Buy?
Turning to Wall Street, analysts have a Hold consensus rating on AFRM stock based on three Buys, three Holds, and four Sells assigned in the past three months, as indicated by the graphic above.
