AFRM Stock Recent News

Goldman Sachs sets a $42 price target for the Affirm (AFRM) stock, indicating a significant premium to Friday's closing price.

Affirm (NASDAQ: AFRM ) stock enjoyed a strong late-day push after Goldman Sachs initiated coverage on the buy-now pay-later company with a “buy” rating. Indeed, Goldman Sachs analysts were clearly impressed by Affirm's business model, setting a price target of $42 on AFRM stock.

Affirm gained almost 13% on Monday after the buy now, pay later firm was upgraded by Goldman Sachs Group Inc (NYSE:GS, ETR:GOS) analysts. The analysts upgraded the stock from ‘Neutral' to ‘Buy' and doubled their price target from $21 to $42, representing a premium of more than 40% to Affirm's closing price on Friday.

Affirm Holdings Inc (NASDAQ: AFRM) gained more than 10% on Monday after a Goldman Sachs analyst issued a super bullish note in its favour.  Shares of the buy now, pay later company are still over 30% for the year.

Shares of Affirm Holdings (AFRM) jumped in intraday trading Monday as Goldman Sachs initiated coverage of the buy now, pay later (BNPL) loan service with a "buy" rating, calling it “the leading provider of modern credit solutions for consumers.”

AAPL's exit from the BNPL scene provides massive opportunities for other fintech lenders, such as AFRM and other credit/ debit card providers. AAPL users may be more likely to adopt AFRM's BNPL platform ahead, with it potentially influencing "customer decisions on which cards to spend on, or where to set up credit." With AAPL's users typically reporting higher incomes, we may see AFRM benefit from the reduced lending risks and delinquency rates, building upon the latter's risk management thus far.

Affirm has accelerated top-line growth while boosting profitability. The company's Affirm Card is gaining traction with consumers, helping the company to adjust to the higher interest rate environment. Affirm is set to be offered as a BNPL option on Apple Pay, with Apple no longer offering BNPL in the United States.

Nu has room to grow as Latin America's digital banking market expands. Upstart's lending business will recover as interest rates decline.

Recently, Apple (AAPL) announced a discontinuation of its "buy now, pay later" service. The third-party offering with companies like Affirm (AFRM) is set to launch later in 2024.

Recently, Zacks.com users have been paying close attention to Affirm Holdings (AFRM). This makes it worthwhile to examine what the stock has in store.