What's Going On With Affirm Holdings Stock Tuesday?
Portfolio Pulse from Adam Eckert
Affirm Holdings Inc (NASDAQ:AFRM) experienced volatility after a 12% rise on Monday, likely due to heavy 'Buy Now, Pay Later' usage reported on Cyber Monday. U.S. Cyber Monday sales reached a record $12.4 billion, with 'Buy Now, Pay Later' transactions totaling $940 million, up 42.5% year-over-year. Jefferies analyst John Hecht upgraded Affirm from Underperform to Hold and increased the price target from $9.50 to $30. Affirm's stock was slightly down at $29.26 at the time of publication.
November 28, 2023 | 2:41 pm
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POSITIVE IMPACT
Affirm's stock experienced volatility following a significant increase in 'Buy Now, Pay Later' usage during Cyber Monday, with an analyst upgrade from Jefferies and a raised price target.
The positive news of increased 'Buy Now, Pay Later' usage on Cyber Monday, which is directly related to Affirm's business model, coupled with an analyst upgrade and raised price target, is likely to have a positive short-term impact on AFRM's stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100