Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Affirm Holdings Rallies After DA Davidson Upgrade

Published 29/01/2022, 06:22 am
Updated 29/01/2022, 06:22 am

 By Sam Boughedda

Investing.com — Fintech company Affirm Holdings Inc (NASDAQ:AFRM) shares surged 16% Friday on the back of an upgrade by DA Davidson.

Analyst Christopher Brendler upgraded Affirm to buy from neutral, although he lowered the price target to $75 from $110.

Brendler said in a note that he views the company as having a better risk/reward following a "brutal sell-off."

The analyst cited industry data that suggests buy now pay later usage in the U.S. "more than doubled this holiday season."

He added that "combined with Affirm's own amazing retail traction plus Amazon, we see material upside into results." Amazon (NASDAQ:AMZN) has Affirm as a buy now pay later option.

"Although we still have concerns about credit/valuation (still super expensive for a lender), we see so much estimate upside that we just have to be on board," said Brendler.

Affirm's next earnings report is set to be released on Feb. 10.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.