Affirm Holdings, Inc. (AFRM) stock surged 5.13% in the pre-market session on Wednesday, driven by a bullish analyst initiation on the company.

William Blair initiated coverage on Affirm Holdings with an Outperform rating and a price target of $65.22. This positive assessment from the research firm likely boosted investor sentiment, leading to the pre-market rally in AFRM shares.

Affirm Holdings, a financial technology company offering buy-now-pay-later services, has seen strong momentum in its business, which may have contributed to the analyst's optimistic outlook. The company's innovative approach to consumer financing has gained traction among retailers and consumers alike, positioning it as a key player in the rapidly growing fintech sector.