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© Reuters. Wall Avenue analysts react positively to Affirm Holdings (AFRM) investor day
On Tuesday, Affirm Holdings (NASDAQ:) hosted an in-person Investor Day in New York Metropolis. On the occasion, the corporate highlighted product improvements, future operations, and an incremental steerage replace.
Here is how Wall Avenue analysts reacted:
BofA reiterated a Impartial score and raised its value goal on AFRM to $27 from $25 per share. The funding financial institution said that the corporate spoke in regards to the Affirm Card alternative, key partnership methods, new market alternatives, and a medium-term monetary framework. In addition they famous that AFRM is anticipating $50 billion of GMV within the medium-term, pushed by the core enterprise, Affirm Card, and enlargement into worldwide and BNPL.
“Overall, analysts thought the company struck a positive tone, and continue to view Affirm positively over the long term in the BNPL landscape,” mentioned BofA, including that they continue to be Impartial because the shares are pretty valued.
BTIG, which has a Promote score and a $12 value goal on the inventory, mentioned the joy across the AFRM Card is constructing, and new geographies ought to drive incremental progress.
“Analysts came away from the presentation positive on the product pipeline Affirm has planned for the coming years, especially those surrounding the Affirm Card, as well as the cost-cutting initiatives that will begin to take place,” they wrote.
“Affirm is attempting to expand its product suite beyond BNPL and become a leader in payments, and while analysts are constructive on Affirm’s expansion opportunities and the ability to continue growing GMV, they would need to see incremental improvements on the path to profitability before becoming more positive on the name,” BTIG’s analysts added.
Elsewhere, Barclays maintained an Obese score and a $28 per share value goal on the inventory.
The agency mentioned the purchase now, pay later firm highlighted an “increasingly productive funding backdrop and provided a medium-term outlook generally in-line with expectations.”