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Tag: Affirm stock

  • Affirm (AFRM) Shares Rally In Extended Session After Positive Earnings Release

    Affirm (AFRM) Shares Rally In Extended Session After Positive Earnings Release

    Affirm Holdings, Inc. (NASDAQ: AFRM) experienced a significant rise in its share price following the release of its earnings report. After the U.S. stock market closed on Wednesday, AFRM shares soared 15.42%, reaching $36.45 in after-hours trading. The surge is attributed to positive financial results and continued growth across key metrics.

    Impressive Growth in Gross Merchandise Volume

    Outpacing the growth of the e-commerce industry generally, Affirm’s Gross Merchandise Volume (GMV) increased by 31% year over year to $7.2 billion. Continuous improvements in the cart share were reflected in the GMV from its top five merchants and platform partners, which increased by 38% year over year.

    In addition, there are now 18.6 million active customers, up 19% from the previous year when Returnly was not included in the count. Additionally, its active merchant count increased by 19% to 303,000, signaling the third consecutive quarter of faster merchant growth and a growing level of company adoption of company’s offerings.

    Strategic Partnerships and Expansion

    Affirm has secured partnerships with three leading brands and commerce platforms in the U.S. by market share. It is anticipated that AFRM will be incorporated into the four largest digital wallets in North America by year’s end. The company has recently formed a partnership with Hotels.com, allowing approved guests to book accommodations and pay over time, enhancing payment flexibility for travelers.

    This move builds on its existing collaboration with Expedia Group, where Affirm serves as the exclusive “buy now, pay later” provider on platforms such as Expedia and Vrbo. By choosing Affirm at checkout, customers can split their total purchase cost into manageable payments with transparent pricing, as the company does not impose late or hidden fees.

    Expanding Presence Across Retail and Travel Sectors

    The integration of Affirm with Hotels.com marks a significant milestone in its efforts to expand payment flexibility for travelers, adding to its 292,000 retail partners, including major names like Amazon, Casper, Newegg, and American Airlines. This partnership is expected to drive overall sales, increase average order value, and attract new customers, further solidifying Affirm’s position as a leader in the “buy now, pay later” space.

  • Early Morning Vibes: 4 Stocks We Like for Thursday

    Early Morning Vibes: 4 Stocks We Like for Thursday

    On January 20, American stock markets closed at new all-time highs. The S&P 500 index rose 1.39% to 3852 points, the NASDAQ rose 1.97%, the Dow Jones added 0.83%. Risk appetite has increased on the back of an improving epidemiological situation in the States, positive expectations from the reporting season, and partly due to the official inauguration of President Joseph Biden. The communications sector was a growth engine for the broader market, surging 3.6% on a strong quarterly report from Netflix.

    Company news

    • Streaming giant Netflix (NFLX: + 16.9%) performed better than expected and management announced that it is considering resuming its share buyback program.
    • Bank of New York Mellon (BK: -7.3%) showed mixed results. Operating expenses were above expectations.
    • Procter & Gamble’s (PG: -1.3%) earnings and earnings exceeded expectations, but the stock still declined on investor concerns about the sustainability of the results.

    Today, global stock exchanges are showing positive dynamics. The first decrees of President Biden only indirectly relate to the economy, so they practically do not affect the stock market. Investor optimism is driven by factors that have been in sight for a long time. Among them are soft monetary policy, prospects for the adoption of a new package of fiscal stimuli, acceleration of the vaccination process.

    Yesterday in the United States, a record number of deaths per day was recorded – 4409. Amazon has offered vaccine assistance to the US government, which has boosted investor confidence in boosting the vaccine campaign. In addition, the first studies point to the effectiveness of the Pfizer vaccine against the British strain of coronavirus.

    The first quarterly reports of S&P 500 companies exceed investor expectations. Currently, the forecast assumes an average EPS decline of 5.9%, while just a week ago, EPS was forecast to fall by 8.8%. Market participants are just beginning to put optimistic expectations in the quotes in relation to reporting, so the upside potential of the S&P 500 remains.

    Economic News

    Noteworthy is the weekly publication of data on the number of initial applications for unemployment benefits (forecast: 910 thousand, previous value: 965 thousand). The unexpected rise in the indicator last week has raised concerns. If this time the market participants get an unpleasant surprise again, then the official report on the labor market for January will be weak.

    Sentiment Index

    The Freedom Finance Sentiment Index climbed to 62 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic are starting to wane thanks to the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is prone to an upward movement. On the eve of the broad market index confidently overcame the historical maximum at 3827 points and continued to move to the upper border of the equidistant channel at 3860 points. Indicators indicate the likelihood of the trend continuation. The nearest resistance is the psychologically significant level of 3900 points.

    Today Top Movers

    ‎Jaguar Health Inc (JAGX), a biotechnology company, surged about 30.48% ‎at $3.81 in pre-market ‎trading Thursday following the declaration of closing of $6.0 million issuance and sale of designation-backed note related to possible tropical disease priority review voucher.‎

    ‎Qutoutiao Inc (QTT) share price soared 39.41% to $3.75 during the early morning ‎trading session on ‎Thursday.‎‎

    ‎InspireMD Inc (NSPR) stock ascended 15.48% at $0.81 in the pre-‎market trading today.‎‎

    ‎BIOLASE Inc (BIOL) gained over 12.14% at $1.08 in pre-market ‎trading on Thursday.‎‎

    Top Upgrades & Downgrades

    BTIG turned bullish on PayPal Holdings Inc. (PYPL), upgrading the stock to “Buy”.

    Diebold Nixdorf Incorporated (DBD) has won the favor of JP Morgan’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $16.0, suggesting 43.04% additional upside for the stock.

    Synaptics Incorporated (SYNA) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $110. They changed their rating on SYNA to Neutral from Underweight in a recently issued research note.

    Earlier Thursday BTIG reduced its rating on Senseonics Holdings Inc. (SENS) stock to Neutral from Buy.

    JP Morgan analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Maxar Technologies Inc. (MAXR) has been changed to Neutral from Overweight and the new price target is set at $55.

    Analysts at Berenberg downgraded Citigroup Inc. (C)’s stock to Hold from Buy Thursday.

    Latest Insider Activity

    Virgin Galactic Holdings Inc. (SPCE) CFO, Treasurer Campagna Jonathan Joseph announced the sale of shares taking place on Jan 19 at $31.44 for some 56,305 shares. The total came to more than $1.77 million. 

    Snap Inc. (SNAP) Chief Financial Officer Andersen Derek sold on Jan 19 a total of 1,254,458 shares at $50.43 on average. The insider’s sale generated proceeds of almost $0.44 million. 

    Affirm Holdings Inc. (AFRM) 10% Owner Founders Fund V Management, LL declared the purchase of shares taking place on Jan 15 at $49.00 for some 75,000 shares. The transaction amount was around $3.67 million. 

    Adverum Biotechnologies Inc. (ADVM) Director Machado Patrick bought on Jan 15 a total 78,182 shares at $11.52 on average. The purchase cost the insider an estimated $115,174.

    Important Earnings

    Top US earnings releases scheduled for today include FuelCell Energy Inc. (NASDAQ: FCEL). It will announce its Oct 2020 financial results. The company is expected to report earnings of -$0.04 per share from revenues of $17.05M in the three-month period. 

    Analysts expect Baker Hughes Company (NYSE: BKR) to report a net income (adjusted) of $0.17 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $5.42B. 

    Intel Corporation (INTC), due to announce earnings after the market closes today, is expected to report earnings of $1.1 per share from revenues of $17.5B recently concluded three-month period.