Affirm Holdings, Inc. (AFRM) stock is soaring 5.09% in pre-market trading on Friday, as investors show optimism ahead of the company's upcoming earnings report next week. The surge comes amid growing popularity of "Buy Now, Pay Later" (BNPL) services, where Affirm has been gaining significant market share.
The BNPL leader has seen its stock rally more than 140% from its April lows, reflecting strong growth in the sector. Affirm's market share in the BNPL space has increased by about 400 basis points from 2022 to 2024, reaching 13% by the end of last year. This growth outpaces many of its competitors, including industry leader Klarna.
Analysts are optimistic about Affirm's upcoming fourth-quarter results, with JPMorgan raising its price target on the stock to $84 from $69. The focus will be on Affirm's gross merchandise volume (GMV), which is expected to show significant growth. However, investors will also be closely watching the company's 2026 outlook and any potential impact from Walmart's recent partnership with Klarna, which could affect about 5% of Affirm's GMV.
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