Piper Sandler raised the firm’s price target on Affirm (AFRM) to $19 from $14 and keeps an Underweight rating on the shares. Affirm had a very good quarter, producing a broad-based beat relative to the firm’s estimates on various metrics, including revenue and GMV growth, due to strong growth from their Shopify (SHOP) partnership, the analyst tells investors in a research note. The guide is likely to reset margin expectations and put some near-term pressure on the stock, the firm adds.
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