Barclays analyst Ramsey El-Assal lowered the firm’s price target on Affirm to $41 from $50 and keeps an Overweight rating on the shares as part of a Q1 earnings preview for the financial technology group. The sector appears to be setting up well into the Q1 earnings season, as fiscal 2024 outlooks have been largely set at reasonable levels, the analyst tells investors in a research note. The firm says consumer spending trends have remained healthy in Q1, bouncing back following the impact of unseasonably cold weather in January.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AFRM:
- UPS upgraded, PepsiCo downgraded: Wall Street’s top analyst calls
- Needham starts Affirm at Hold on high valuation and stock-based compensation
- Affirm initiated with a Hold at Needham
- Affirm Holdings call volume above normal and directionally bullish
- Klarna may seek $20B valuation in IPO that could come in Q3, Bloomberg says