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Affirm Holdings, Inc. (NASDAQ:AFRM) shares are surging Thursday after the company posted strong fourth-quarter financial results on Wednesday after the market closed.
The Details:
Affirm's fourth-quarter earnings beat the analyst estimate by 72%, and revenue for the quarter grew nearly 50% year-over-year. The company said GMV increased by more than 30%, and transactions on the Affirm network grew 42% year-over-year.
On top of its blockbuster earnings report, Affirm issued first-quarter guidance well above estimates.
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Multiple analysts adjusted price targets on Affirm stock following the print:
According to data from Benzinga Pro, Affirm shares are trading on heavy volume Thursday well-above the stock's 50-day moving average of $28.95.
Wall Street analysts view Affirm Holdings on the whole as a Buy, given the history of coverage over the past three months. Jason Kupferberg from B of A Securities in Affirm Holdings is the most optimistic, expecting a 16.67% rise in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Affirm Holdings rose 5.27%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 47.86% over the past year.
A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.
AFRM Price Action: According to Benzinga Pro, Affirm Holdings shares are up 31.8% at $41.60 at the time of publication Thursday.
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Posted In: AFRM
