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Nov 4, 2025 4:00 PM

Analyst Optimistic On Affirm Q1 Despite October Spending Deceleration

JP Morgan analyst Reginald L. Smith reiterated an Overweight rating on Affirm Holdings, Inc. (NASDAQ:AFRM) with a price forecast of $94, ahead of first quarter earnings release on November 5th.

Analyst View

The analyst writes that Card issuers and BNPL providers signal stable to accelerating spending, which should lead to another quarterly gross merchandise value (GMV)/revenue beat for the company.

However, intra-quarter spend and credit trends will be the key focus, as October data showed some deceleration in spending, raising investor ...