Affirm's Growth Boosted by Apple and Amazon Partnerships, Lower Interest Rates: Analyst
Portfolio Pulse from Anusuya Lahiri
Affirm Holdings Inc (NASDAQ:AFRM) received an upgrade from B of A Securities analyst Jason Kupferberg, who raised the stock from Neutral to Buy with a price target of $36. The analyst cited potential GAAP profitability, lower interest rates, and strong partnerships with Apple and Amazon as key factors. The fourth-quarter results and fiscal 2025 forecasts are expected to be positive catalysts.
July 30, 2024 | 8:21 pm
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POSITIVE IMPACT
Apple Inc (NASDAQ:AAPL) is mentioned as a key partner for Affirm Holdings, which could benefit from new and expanded partnerships. This relationship is expected to support Affirm's fiscal 2025 and 2026 forecasts.
While the primary focus is on Affirm, the mention of Apple as a key partner suggests potential positive impacts on Apple's business through expanded partnerships. This could lead to increased revenue streams for Apple.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Affirm Holdings Inc (NASDAQ:AFRM) was upgraded from Neutral to Buy by B of A Securities with a price target of $36. The analyst highlighted potential GAAP profitability, lower interest rates, and strong partnerships with Apple and Amazon as key factors. The fourth-quarter results and fiscal 2025 forecasts are expected to be positive catalysts.
The upgrade to Buy and the increased price target are likely to boost investor confidence in AFRM. The analyst's positive outlook on GAAP profitability, lower interest rates, and strong partnerships with Apple and Amazon are significant factors that could drive the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Amazon.com Inc (NASDAQ:AMZN) is mentioned as a significant partner for Affirm Holdings, with potential geographic expansion of their partnership expected to support Affirm's fiscal 2025 and 2026 forecasts.
Amazon's partnership with Affirm is expected to expand geographically, which could positively impact Amazon's business by increasing its customer base and transaction volumes.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
POSITIVE IMPACT
Shopify Inc (NYSE:SHOP) is mentioned as a partner for Affirm Holdings, with potential geographic expansion of their partnership expected to support Affirm's fiscal 2025 and 2026 forecasts.
Shopify's partnership with Affirm is expected to expand geographically, which could positively impact Shopify's business by increasing its merchant base and transaction volumes.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 20