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AFRM sees rising demand for installment payments as inflation and gas costs pressure consumers, while disciplined underwriting helps manage credit risk.
Installment-lending stocks are running well ahead of the broad market at midday Wednesday as Treasury yields retreat and a fresh price-target raise on the group's largest name pulls peers along with it.
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Today's fintech selling is precisely targeted at the two names in the group that carry consumer credit on their own balance sheets, and the ordering inside the trio proves it.
Bernstein SocGen raised its price target on Affirm Holdings (AFRM) to $110 from $100, keeping an Outperform rating and pointing to network effects across mercha
AFRM's Q4 earnings beat is driven by 36% GMV growth, rising transactions and card adoption, while credit losses and expenses increase.
Shares of Affirm Holdings (NASDAQ:AFRM | AFRM Price Prediction) are unwinding a sharp post-earnings rally to open the week, handing back much of the gain built on Thursday's fiscal fourth-quarter report.
The head of buy now, pay later provider Affirm says gas prices are weighing on consumers. “The U.S. consumer undoubtedly sees the higher gas prices, so can't, can't ignore that,” Max Levchin said in an interview with CNBC's “Squawk Box” Friday (Aug. 28).