What's Going On With Affirm Holdings Stock?
Portfolio Pulse from Erica Kollmann
Affirm Holdings, Inc. (NASDAQ:AFRM) shares closed higher by 3.77% at $34.11 on Monday, despite a nearly 12% decline over the past month. Needham analyst Kyle Peterson initiated coverage with a Hold rating, citing the company as a long-term winner in the buy-now pay-later space but noting concerns over stock-based compensation. The Federal Reserve's recent meeting and economic data suggest fewer rate cuts in 2024, potentially impacting Affirm's stock. Affirm's shares are trading below their 50-day moving average and well below their 52-week high. A trend analysis forecasts a potential decline in Affirm's stock to $11.63 by 2030 based on its past 5-year annualized performance of -19.36%.
April 08, 2024 | 8:21 pm
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NEGATIVE IMPACT
Affirm Holdings received a Hold rating from Needham, with its stock closing higher at $34.11 but facing a potential long-term decline to $11.63 by 2030 based on past performance.
The Hold rating by Needham, combined with concerns over stock-based compensation and the potential impact of economic conditions on interest rates, suggests a cautious outlook for Affirm Holdings. The trend analysis indicating a significant potential decline in stock price by 2030 further supports a negative short-term impact on AFRM's stock.
CONFIDENCE 75
IMPORTANCE 90
RELEVANCE 100