Affirm Holdings, Inc. (AFRM) stock surged 9.3% in intraday trading on Wednesday, following a bullish initiation by analyst firm William Blair. The rally was fueled by optimism surrounding Affirm's position in the growing fintech sector and its innovative buy-now-pay-later services.

William Blair initiated coverage on Affirm with an Outperform rating and a price target of $65.22, citing the company's ability to cater to younger consumers' demand for instant credit decisions, creative lending products, and flexible payment options. Analysts believe Affirm is a leader in the "buy now, pay later" space, driven by its digital user experience and accessible consumer finance solutions.

Affirm's strong momentum and potential for further growth in the rapidly evolving financial landscape were highlighted as key factors behind the positive analyst assessment. The company's ability to navigate through challenging macro environments like the COVID-19 pandemic and its consistent access to liquidity sources also contributed to the bullish outlook.