Affirm's Q2 Beat Fuels Profit Hopes: Analyst Ratings and Future Guidance

Thursday, 29 August 2024, 09:30

Affirm's Q2 performance has fueled profit hopes as the company generated total revenues of $659 million, significantly surpassing expectations. GMV increased by 31% year-on-year to reach $7.2 billion, highlighting strong results. Analysts express optimism about Affirm's future guidance, reinforcing a positive outlook in the fintech space.

Benzinga — Affirm's Q2 Beat Fuels Profit Hopes: Analyst Ratings and Future Guidance

Affirm's Q2 Earnings Report

Affirm Holdings (NASDAQ:AFRM) reported total revenues of $659 million for Q2, exceeding the consensus estimate of $604 million. Gross Merchandise Volume (GMV) also grew significantly, up 31% year-on-year to $7.2 billion.

Analyst Insights

According to Daniel Perlin from Goldman Sachs, the full-year guidance signifies a promising trajectory for the company. Analyst Ratings reflect a consensus that the outlook remains much better than expected, positioning Affirm as a key player in fintech.

Future Price Targets

JPMorgan suggests bullish forecasts moving forward.
RBC Capital Markets reaffirms its price target based on robust earnings.
Reginald Smith notes continued momentum in the sector.

Strategic Implications for Investors

With these earnings beats and optimistic trading ideas, investors may find new opportunities in Affirm’s growth story, driven by the evolving landscape of fintech.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.