BofA Hikes Affirm Price Target to $88: Clean Beat and Raise Sets Up the May 12 Investor Day

"The analyst upgrade follows a "clean beat and raise" fiscal Q3 2026 report and frames the recent share dip as "a brief air pocket" ahead of the company's investor forum. The new target sits above the Street consensus of $81.71, with Affirm stock closing at $64.01 on May 8 and trading near $62 intraday Monday."

"O'Neill's price target raise rests on Affirm's $1.04 billion in fiscal Q3 2026 revenue, a 4% beat that grew 33% year over year (YoY). Management also lifted full-year FY2026 revenue guidance to $4,175 million to $4,205 million, the textbook beat-and-raise setup that Bank of America views as a clean read."

"The Bank of America note treats Affirm stock's post-earnings weakness as a tactical setup rather than a thesis crack, with the May 12 investor forum expected to refresh the medium-term financial framework. A credible target update could re-anchor the multiple after the recent pullback."

"Affirm operates a buy-now-pay-later (BNPL) lending platform that splits consumer purchases into installments and earns through merchant fees and interest on longer-duration loans. Q3 FY2026 GMV reached $11.6 billion, marking the 10th consecutive quarter of 30%+ GMV growth. The Affirm Card remains the standout, with GMV up 146% YoY and 4.4 million active cardholders."

Bank of America raised its Affirm price target to $88 from $82 while keeping a Buy rating after a fiscal Q3 2026 “clean beat and raise.” The quarter delivered $1.04 billion in revenue, a 4% beat and 33% year-over-year growth, and full-year FY2026 revenue guidance was lifted to $4,175 million to $4,205 million. The recent share decline is framed as a temporary “air pocket” ahead of an investor forum expected to refresh the medium-term financial framework. Affirm’s buy-now-pay-later platform reported Q3 FY2026 GMV of $11.6 billion, the 10th straight quarter of 30%+ growth, with Affirm Card GMV up 146% year-over-year and 4.4 million active cardholders. Cash generation increased net cash to $1.35 billion.

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