Stock Track | Affirm Soars Over 5% as WooCommerce Partnership and Bullish Analyst Views Boost Outlook

Stock Track
2024-12-21

Affirm Holdings Inc. (AFRM) stock soared 5.06% in Friday's intraday trading session amidst positive developments for the buy-now-pay-later company.

A key catalyst was Affirm's expanded partnership with WooCommerce, which will make Affirm a default payment option for merchants using WooCommerce's integrated payment solution WooPayments. As reported, this will instantly enable Affirm's flexible pay-over-time plans at checkout for thousands of merchants.

Affrim's outlook was further boosted by bullish analyst views. Jefferies upgraded the stock to Buy from Hold with a $82 price target, citing trends like larger market share, margin expansion, and credit/rate tailwinds that could drive 35-50% upside to revenue and volumes through fiscal 2027. JMP Securities also upgraded Affirm to Outperform from Market Perform with a $78 target, calling it a "long-term secular winner" taking share from credit card firms.

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