Affirm Earns Stock Upgrade, Morgan Stanley Says Apple Pay Integration Expected To Drive $1.94B In Transactions

Quick Summary:

Morgan Stanley has upgraded Affirm Holdings Inc.(NASDAQ:AFRM), a payment network operator in the U.S.and Canada, as the company has started implementing strategies to attract higher-income users.

The analyst had previously expressed concerns about Affirm’s growing customer base, noting that it was becoming more skewed toward lower-income individuals with weaker credit profiles, which could challenge the company’s long-term growth.

However, Affirm’s integration with Apple Pay has expanded its reach to a younger, higher-income demographic.

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Author / Journalist: Vandana Singh

Category: Technology

Markets: United StatesCanada

Topics: Movers Tech Equities Analyst Color Price Target AFRM Briefs General Large Cap Stories That Matter Why it's moving Upgrades News Analyst Ratings Benzinga Expert Ideas Trading Ideas

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-09 @ 17:04:06 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 405 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © Benzinga

News ID: 22970302

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