Affirm Holdings (AFRM) received a significant vote of confidence as analysts at Barclays upgraded the stock to a "strong-buy" rating in a research report issued Friday. This upgrade contributes to a generally positive analyst outlook for the financial technology company, which now has a consensus rating of "Moderate Buy" with an average price target of $90.35.
The upgrade follows a period of positive performance for the company. Affirm's latest earnings report showed earnings per share of $0.30, beating the consensus estimate of $0.17. Additionally, the company's revenue grew by 32.7% on a year-over-year basis to $943.95 million, although this was slightly below analysts' expectations. The stock had already shown upward momentum, with shares reportedly up 3.1% in the trading session prior to the upgrade announcement.