Affirm COO says user base spending still solid, says RBC Capital

RBC Capital keeps a Sector Perform rating and $97 price target on Affirm (AFRM) after hosting an investor lunch with its COO. The discussion indicated that spending from their user base remaining solid, which may not be the case for spending across the broader consumer, the analyst tells investors in a research note. RBC adds that the other pure-play buy-now-pay-later competitor is now public, which is leading investors to look for differences in the two businesses, but the COO pointed out a key area of difference being that Affirm does not charge any late fees, which they view as a long-term advantage and a testimony of their transparency and underwriting agility.