0851 ET - Affirm's new payment card has been a hit with consumers and is helping drive growth at the buy now, pay later company, Raymond James analysts say. Active cardholders reached 5.2 million in the latest quarter, more than double the number a year ago. Cardholders now make up 19% of total active consumers. People who use Affirm's card tend to pay with Affirm more frequently and for more types of purchases, the analysts note. "We continue to view the card as critical to AFRM's offline expansion strategy and long-term share gains in total commerce," they say. Shares rise 11% premarket.
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