From Dow Jones & Company:

Wall Street analysts are optimistic about buy-now-pay-later services company Affirm Holdings Inc., but most expect the stock to pull back in 2024 after skyrocketing over five-fold this year. The stock has increased 420.7% year-to-date and 186% since October. However, less than a third of analysts are bullish, with an average 12-month price target of $29.24, implying a 42% downside. Affirm’s biggest rivals, PayPal and Block, have also seen stock increases of 21.5% and 98.4%, but analysts remain bullish for both companies, with price targets implying upside potential for both.

Analysts have mixed views on Affirm stock, with one analyst, Truist’s Andrew Jeffrey, remaining bullish on the stock. However, the average 12-month stock price target is $29.24, suggesting a 42% downside from current levels. Other bullish analysts include Mizuho Securities with a 12-month target of $65, and J.P. Morgan, which has a neutral rating with a price target of $35, implying a 30% downside. On the other hand, 36 out of 50 analysts covering Block are bullish, although the average stock price target is about 5% below current levels.



Read more: Affirm’s stock could fall 40% in 2024 after soaring 400% this year, analysts say