On Tuesday, Affirm Holdings (NASDAQ:AFRM) hosted an in-person Investor Day in New York City. At the event, the company highlighted product innovations, future operations, and an incremental guidance update.
Here's how Wall Street analysts reacted:
BofA reiterated a Neutral rating and raised its price target on AFRM to $27 from $25 per share. The investment bank stated that the company spoke about the Affirm Card opportunity, key partnership strategies, new market opportunities, and a medium-term financial framework. They also noted that AFRM is expecting $50 billion of GMV in the medium-term, driven by the core business, Affirm Card, and expansion into international and BNPL.
"Overall, analysts thought the company struck a positive tone, and continue to view Affirm positively over the long term in the BNPL landscape," said BofA, adding that they remain Neutral as the shares are fairly valued.
BTIG, which has a Sell rating and a $12 price target on the stock, said the excitement around the AFRM Card is building, and new geographies should drive incremental growth.
"Analysts came away from the presentation positive on the product pipeline Affirm has planned for the coming years, especially those surrounding the Affirm Card, as well as the cost-cutting initiatives that will begin to take place," they wrote.
"Affirm is attempting to expand its product suite beyond BNPL and become a leader in payments, and while analysts are constructive on Affirm's expansion opportunities and the ability to continue growing GMV, they would need to see incremental improvements on the path to profitability before becoming more positive on the name," BTIG's analysts added.
Elsewhere, Barclays maintained an Overweight rating and a $28 per share price target on the stock.
The firm said the buy now, pay later company highlighted an "increasingly productive funding backdrop and provided a medium-term outlook generally in-line with expectations."