U.S. markets closed
  • S&P 500

    4,471.37
    +33.11 (+0.75%)
     
  • Dow 30

    35,294.76
    +382.20 (+1.09%)
     
  • Nasdaq

    14,897.34
    +73.91 (+0.50%)
     
  • Russell 2000

    2,265.65
    -8.52 (-0.37%)
     
  • Crude Oil

    82.66
    +1.35 (+1.66%)
     
  • Gold

    1,768.10
    -29.80 (-1.66%)
     
  • Silver

    23.35
    -0.13 (-0.54%)
     
  • EUR/USD

    1.1606
    +0.0005 (+0.05%)
     
  • 10-Yr Bond

    1.5760
    +0.0570 (+3.75%)
     
  • GBP/USD

    1.3751
    +0.0074 (+0.54%)
     
  • USD/JPY

    114.2000
    +0.5230 (+0.46%)
     
  • BTC-USD

    61,156.14
    -253.65 (-0.41%)
     
  • CMC Crypto 200

    1,464.06
    +57.32 (+4.07%)
     
  • FTSE 100

    7,234.03
    +26.32 (+0.37%)
     
  • Nikkei 225

    29,068.63
    +517.70 (+1.81%)
     

Why Affirm Shares Are Trading Higher Today

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

Affirm Holdings Inc (NASDAQ: AFRM) is trading significantly higher Friday after the company announced better-than-expected fourth-quarter fiscal 2021 revenue results and issued guidance above estimates.

Affirm reported a quarterly earnings loss of 48 cents per share, which came in below the estimate for a loss of 29 cents per share. The company reported quarterly revenue of $261.8 million, which beat the estimate of $226.39 million.

Affirm expects first-quarter fiscal 2022 revenue to be in a range of $240 million to $250 million versus the estimate of $233.89 million.

"During the fourth quarter, we increased the number of merchants on our platform by more than fivefold, more than doubled gross merchandise volume and grew active consumers by 97% year over year," said Max Levchin, founder and CEO of Affirm.

View more earnings on AFRM

Morgan Stanley analyst James Faucette maintained Affirm with an Overweight rating and raised the price target from $120 to $140.

AFRM Price Action: Affirm has traded as high as $146.90 and as low as $46.50 over a 52-week period.

The stock was up 21.40% at $111.81 at time of publication.

Photo: courtesy of Affirm.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.