BTIG analyst Vincent Caintic has maintained their neutral stance on AFRM stock, giving a Hold rating yesterday.
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Vincent Caintic’s rating is based on the relationship between Affirm Holdings and its significant merchant partner, Shopify. Shopify reported a substantial year-over-year growth in its Gross Merchandise Volume (GMV), which is generally a positive indicator for Affirm, as their GMV growth tends to follow Shopify’s trends, albeit at a more subdued pace.
Despite this positive correlation, Caintic notes that Affirm’s GMV growth estimate for the current quarter is slightly above its guidance, suggesting a cautious outlook. The Hold rating reflects the expectation that while Affirm may experience a slight uptick in growth due to Shopify’s performance, the increase may not be substantial enough to warrant a more bullish rating at this time.
In another report released yesterday, Morgan Stanley also maintained a Hold rating on the stock with a $90.00 price target.