BTIG analyst Vincent Caintic has maintained their neutral stance on AFRM stock, giving a Hold rating on July 7.
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Vincent Caintic has given his Hold rating due to a combination of factors impacting Affirm Holdings. One significant reason is the introduction of a competing Buy Now Pay Later (BNPL) product by Synchrony, in partnership with Amazon. This new offering is expected to capture some market share from Affirm, which currently holds a unique position with its BNPL service on Amazon.
Additionally, Synchrony’s strategic move to make BNPL a more substantial part of its business portfolio suggests increased competition in the market, potentially affecting Affirm’s growth prospects. These competitive pressures, alongside the unchanged estimates, contribute to the decision to maintain a Hold rating on Affirm’s stock.
According to TipRanks, Caintic is a 2-star analyst with an average return of 0.0% and a 46.05% success rate. Caintic covers the Financial sector, focusing on stocks such as Capital One Financial, Synchrony Financial, and Bread Financial Holdings.
In another report released on July 7, RBC Capital also maintained a Hold rating on the stock with a $75.00 price target.