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Investing.com - Citizens Financial’s JMP analyst has reiterated a Market Outperform rating for Affirm Holdings Inc. (NASDAQ:AFRM) with a price target of $105.00. The stock, currently trading at $81.53 with a market capitalization of $26.55 billion, has delivered an impressive 88.5% return over the past year according to InvestingPro data.
The firm cited a "material growth runway" ahead for the buy-now-pay-later (BNPL) provider, highlighting Affirm’s broader range of retail partners compared to competitors.
JMP noted that Affirm has been integrated on six additional surveyed partners’ checkout pages since their previous analysis conducted a few months ago.
The research highlighted Affirm’s significant gains among Synchrony Financial’s higher-ticket, less discretionary partner base while simultaneously expanding integration with more apparel retailers.
Citizens Financial views Affirm’s platform as differentiated due to its broader offerings that include both short-term Pay-in-X financing and more traditional installment loans, which the firm believes are "more useful for a larger set of consumer goods."
In other recent news, Affirm Holdings Inc. announced the expansion of its partnership with Apple Pay, allowing users to access buy-now-pay-later (BNPL) options for in-store purchases through their Apple Pay wallet. This move extends Affirm’s existing integration beyond online and in-app purchases, offering consumers more flexibility in payment options. Following this development, Goldman Sachs reiterated a Buy rating on Affirm with a $105 price target, while Evercore ISI maintained an Outperform rating with a $100 price target. Additionally, RBC Capital maintained its Sector Perform rating with a $97 price target, noting solid spending from Affirm’s user base. In another update, Affirm’s Compensation Committee approved annual equity awards for certain executive officers under the company’s Amended and Restated 2012 Stock Plan. These awards include restricted stock units (RSUs) and performance stock units (PSUs) that will vest into shares of Affirm’s Class A common stock. These recent developments highlight Affirm’s strategic moves to enhance its market position and reward its executive team.
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