Market News

Affirm (NASDAQ: AFRM) Down Even As Top Analyst Affirms a Buy

Shares of Affirm Holdings (NASDAQ: AFRM) were down in early trading on Friday even as Truist Financial analyst Andrew Jeffrey reiterated a Buy rating on the stock amid news that the Consumer Financial Protection Bureau (CFPB) could start regulating the Buy Now Pay Later (BNPL) sector.

The top-rated analyst believes that the news could be overstated and Affirm could be at lower risk as he believes that it is the “best run BNPL co, offering clear and transparent disclosure.”

Jeffrey stated in his research note, “It is our view that more uniform oversight, disclosure and data rules will benefit Affirm as the market leader and best-practices provider.”

Is AFRM Stock a Buy?

Analysts remain cautiously optimistic about Affirm with a Moderate Buy consensus rating based on nine Buys, five Holds, and three Sells.

AFRM’s average price forecast of $33.33 implies that the stock has an upside potential of around 42.8%.

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