From Financial Modeling Prep: 2024-10-11 18:27:00

Wells Fargo analysts upgraded Affirm Holdings (NASDAQ:AFRM) to Overweight, setting a price target of $52 from $40. This reflects confidence in Affirm’s ability to capture more eCommerce checkouts. Shares closed with a 12% gain on Friday, with GAAP profitability expected soon, making the stock more attractive to investors.

Affirm’s advanced credit assessment, diverse funding programs, and dynamic pricing have positioned the company as a leading consumer lender. Analysts see long-term growth potential of over 20%, with expanding opportunities like the partnership with Apple Pay. An easing rate cycle could further boost growth and reduce funding costs, with the Apple Pay Later initiative potentially increasing GMV by 10% and revenue by 8% in 2026.



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