Bank of America Securities analyst Jason Kupferberg maintained a Buy rating on Affirm Holdings (AFRM – Research Report) today and set a price target of $80.00.
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Jason Kupferberg has given his Buy rating due to a combination of factors including Affirm Holdings’ strong execution and promising growth prospects. Despite a miss in F3Q RLTC margins due to a shift towards 0% APR promotions, the company demonstrated robust GMV growth that exceeded expectations, indicating strong demand and effective partnerships. The credit quality also improved, with a significant portion of 0% APR volumes coming from prime+ borrowers.
Furthermore, Affirm’s expansion efforts, such as the new partnership with Costco, show potential for continued growth. The company has reiterated its GAAP operating profit for F4Q, and while margins are expected to be slightly lower, the revenue forecast aligns with market expectations. The positive traction of the Affirm Card, which saw a 115% year-over-year increase, further supports the Buy rating, as it represents a growing segment of the company’s GMV.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $65.00 price target.
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