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.
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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AFRM:
- Affirm Stock (NASDAQ:AFRM) Slips Post Q2 Print, Analyst Foresees Recovery
- AFRM Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Affirm price target raised to $35 from $24 at Deutsche Bank
- Affirm price target lowered to $43 from $50 at Jefferies
- Affirm price target raised to $60 from $55 at Truist