Affirm Holdings, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Mihir Bhatia from Bank of America Securities reiterated a Buy rating on the stock and has a $94.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mihir Bhatia has given his Buy rating due to a combination of factors including Affirm Holdings’ impressive financial performance and strategic positioning. The company reported a strong end to its fiscal year, with gross merchandise value (GMV) growing by 44% year-over-year, which exceeded expectations and demonstrated robust consumer spending. This growth was driven by both repeat and new customer transactions, indicating a healthy demand for Affirm’s services.
Additionally, Affirm’s guidance for the upcoming fiscal year suggests continued strength, with projected GMV and revenue less transaction costs (RLTC) surpassing market expectations. The company’s focus on new products and geographic expansion is expected to support long-term growth, positioning Affirm well in the expanding Buy Now, Pay Later (BNPL) market. Despite a slight decline in revenue yield due to product mix, the overall financial outlook remains positive, justifying the Buy rating.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $105.00 price target.