Affirm price target raised to $80 from $76 at BofA

BofA raised the firm’s price target on Affirm (AFRM) to $80 from $76 and keeps a Buy rating on the shares. While GMV exceeded the high end of the guidance and Street expectations, shares were trading lower following fiscal Q3 revenue less transaction costs, or RLTC, margins that came in below consensus and the midpoint of the guidance, the analyst tells investors. However, the firm contends that “shares deserve better” on a “solid quarter” and increased its FY25 and FY26 RLTC estimates to $1.453B and $1.785B, respectively, driving its increased price target on Affirm shares.