Shares of Affirm Holdings Inc (NASDAQ:AFRM) climbed in early trading on Friday, after the company reported fiscal first-quarter results.
Here are some key analyst takeaways:
- Citizens JMP Securities analyst David Scharf reiterated a Market Outperform rating and a $105 price target.
- JPMorgan analyst Reginald Smith maintained an Overweight rating and a $94 price target.
Check out other analyst stock ratings.
Citizens JMP Securities: Affirm Holdings once again reported exceptional growth in gross merchandise value, which accelerated to 42%, from 35% in the same quarter of the last fiscal year, Scharf said. GMV rose to $10.8 billion and revenues came in at $933 million, he added.
The company seems to be "firing on all cylinders," the analyst stated. "We continue to believe AFRM is a long-term secular winner at the expense primarily of the credit card industry," he further wrote.
JPMorgan: Affirm Holdings' GMV from digital wallets grew 70% year-on-year, while GMV from ISVs (independent software vendors) increased 68%, Smith said. "We are encouraged by the progress in scaling these new distribution channels, which are still far from optimized," he wrote.
Affirm Holdings guided to 28%-31% year-on-year growth in volumes and 19%-22% growth in revenues for the fiscal second quarter, with were both in-line with expectations, the analyst stated. The company extended its partnership with Amazon.com Inc (NASDAQ:AMZN) through 2031, he added.
AFRM Price Action: Shares of Affirm Holdings had risen by 5.94% to $69.88 at the time of publication on Friday.
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