Affirm price target raised to $50 from $26 at RBC Capital

RBC Capital raised the firm’s price target on Affirm to $50 from $26 but keeps a Sector Perform rating on the shares. The company reported a “very strong quarter” though investors may have largely anticipated this as expectation hurdles going into the print may have proven too high relative to FY24 guidance, the analyst tells investors in a research note. RBC adds that it remains encouraged by the company’s growth trajectory, share gains, and ability to manage profitable growth in an elevated interest rate environment.