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Affirm Holdings Rallies After DA Davidson Upgrade -Breaking

by Mike Robinson

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 By Sam Boughedda

Investing.com — Fintech company Affirm Holdings Inc (NASDAQ) shares rose by 16% Friday due to an upgrade from DA Davidson.

Christopher Brendler analyst upgraded Affirm to Buy from Neutral, but he reduced the price target by $75 to $110.

Brendler stated in a note, that the company has a higher risk/reward ratio after a “brutal sale-off.”

Analysts have cited data from the industry that shows buy now, pay later in America “more than twice this holiday season.”

He stated that Affirm has an amazing retail presence and Amazon can help bring about significant upside to results. Amazon (NASDAQ;) provides Affirm with a Buy Now, Pay Later option.

Brendler said that while we remain concerned about credit/valuation (still very costly for a lender), there is so much upside to the estimate that we must be on board.

The next earnings report from Affirm is scheduled to be published on February 10.

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