On August 28, Affirm Holdings, Inc. rose 13.58% in regular trading, trading at $90.115/share, with turnover of $146 million. The surge was driven by the company's fiscal Q4 earnings report that exceeded Wall Street expectations across all core metrics.

Affirm reported fiscal Q4 revenue of $1.165 billion, surpassing the consensus estimate of $1.106 billion. Gross merchandise volume grew 36% to $14.1 billion, far exceeding the approximately 29% growth anticipated by analysts. EPS came in at $4.62, dramatically beating the $0.36 consensus estimate. For fiscal Q1, the company guided revenue of $1.19 billion to $1.22 billion, above the FactSet estimate of $1.16 billion, with full-year GMV targeted above $64 billion versus the $63 billion consensus.

Multiple investment banks raised their price targets following the results. RBC Capital Markets increased its target to $96 from $80, noting Affirm is emerging as a leader in the increasingly crowded Buy Now, Pay Later space. JPMorgan highlighted that GMV growth momentum continues to translate into revenue and profitability. The company also announced the appointment of Michael Linford as President.

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