Affirm (AFRM) may be incredibly oversold.
But momentum shows no signs of slowing.
Since we highlighted the AFFRM stock around $63 in August, we’ve watched it soar to $152. From here, it could see $200 by year end.
All thanks to partnerships with companies, like Amazon and Target. In fact, Affirm just expanded its relationship with Amazon. “Affirm will be a financing option for all eligible purchases of $50 or more on Amazon.com and the Amazon mobile app. The company said Affirm will be the only third-party, non-credit-card buy now, pay later option for U.S. Amazon customers,” says Barron’s.
Even better, according to the company:
“Seven in 10 Americans say they typically go over budget during the holidays, according to new research from the first Affirm Consumer Spend Report, Affirm look at what consumers are up to—and where they’re headed next. With many Americans eager to make this year’s holiday season memorable, this year is no different. Affirm discovered nearly half (48%) plan to spend more money this year because they couldn’t celebrate like they normally would last year.”
Earnings have been just as explosive.
For the quarter, revenue soared 55% higher to $269.4 million. That was well ahead of the company’s own guidance range of $240 million to $250 million. Gross merchandise value was $2.7 billion, which also beat a guidance range of $2.42 billion to $2.52 billion.
In addition, according to Barron’s, “The company lifted its revenue forecast for the June 2022 fiscal year to between $1.225 billion and $1.25 billion, up from a previous range of $1.16 billion to $1.19 billion. Affirm now sees full-year GMV of between $13.13 billion and $13.38 billion, up from a previous target range of $12.45 billion to $12.75 billion.”
Again, AFRM could see $200 before long.
The post This is Why Affirm Holdings Could Rally to $200 appeared first on Morningology.
