TD Cowen Starts Affirm Holdings Inc. (AFRM) at Buy

TD Cowen analyst Moshe Orenbuch initiates coverage on Affirm Holdings Inc. (NASDAQ: AFRM) with a Buy rating and a price target of $50.00.

The analyst comments: "AFRM is one of the top performing BNPL brands in the U.S. with a full-suite POS lending capability vs peers, and likely the most pro-consumer practices in the industry. We also believe it has more seasoned underwriting capabilities vs peers, given that AFRM started out underwriting longer-term loans first before adding pay-in-4 capabilities. We also believe AFRM's slate of heavyweight partners in e-commerce (e.g., Amazon, Shopify) demonstrates its capabilities, as well as allows it to go after volume from both big and small businesses more effectively than BNPL peers. This should give credence to AFRM's GMV growth guidance in the low-20s-plus range in the medium term if not faster."

For an analyst ratings summary and ratings history on Affirm Holdings Inc. click here. For more ratings news on Affirm Holdings Inc. click here.

Shares of Affirm Holdings Inc. closed at $37.57 yesterday.

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