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Is Affirm Holdings A Buy After Announcing it “Expanded” its Relationship with Amazon? -Breaking

by Mike Robinson

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© Reuters. Affirm Holdings Is Now a Buy after It Announced it Expanded its Amazon Relationship

Fintech company Affirm’s (AFRM) shares have gained in price over the past few months thanks to the popularity of its “buy-now-pay-later” services. But can the stock deliver more upside following the company’s expansion of its relationship with Amazon.com (NASDAQ:)? Let’s find out.Affirm Holdings, Inc. (AFRM) recently announced the expansion of its relationship with Amazon.com, Inc. (AMZN). It will serve as Amazon’s only “buy now, pay later” option in the United States until January 2023. Amazon Pay, the digital wallet for Americans that is based in San Francisco, will incorporate this concern. In addition, the company reported quarterly sales of $269.39 millions for its first quarter 2022. This was September 2021. It beats the consensus $248.23million estimate by 9%.

The stock has gained 138.9% in price over the past three months and 199.8% over the past six months to close yesterday’s trading session at $151.72.

However, AFRM posted a quarterly loss of $1.13 per share, missing the consensus estimate at 30-cents per shares. It also recently saw a decrease in hedge fund sentiment. Moreover, the company’s losses widened in the first quarter, and it is expected to continue reporting losses in the coming quarters. So, AFRM’s near-term prospects look bleak.

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