Affirm price target raised to $9.50 from $8 at Jefferies

Jefferies analyst John Hecht raised the firm’s price target on Affirm to $9.50 from $8 and keeps an Underperform rating on the shares. Fiscal Q1 results beat expectations, driven by higher interest income and GMV, and FY24 guidance was largely maintained with some upside on GMV and margins, the analyst tells investors. The stock “will likely rise due to the beat and guide,” but the firm remain on the sidelines due to macro and industry risks.