In a report released today, Moshe Orenbuch from TD Cowen maintained a Buy rating on Affirm Holdings (AFRM – Research Report), with a price target of $50.00.
Moshe Orenbuch has given his Buy rating due to a combination of factors including Affirm Holdings’ strong position in the Buy Now, Pay Later (BNPL) market and its robust partnerships with major e-commerce platforms such as Amazon and Shopify. These partnerships enhance Affirm’s ability to capture market volume effectively. Furthermore, Affirm’s comprehensive point-of-sale lending capabilities and consumer-friendly practices set it apart from its competitors.
Additionally, Affirm’s seasoned underwriting capabilities and strong funding program have enabled it to secure favorable terms in the capital markets. The company has been successful in attracting additional funding from partners like Sixth Street and Liberty Mutual, which positions it well in a potentially more stable credit environment. Despite economic uncertainties, Affirm’s shorter-duration, purpose-driven loans could allow it to serve more customers if the industry tightens credit, and its past performance during challenging credit periods suggests resilience.
Orenbuch covers the Financial sector, focusing on stocks such as SLM, Capital One Financial, and Bread Financial Holdings. According to TipRanks, Orenbuch has an average return of 19.4% and a 63.37% success rate on recommended stocks.
In another report released on April 4, Barclays also maintained a Buy rating on the stock with a $45.00 price target.