Affirm Holdings, Inc. AFRM shares traded higher on Wednesday. The stock has been trending up over the past month. Here's a look at why.
What To Know: The stock traded higher on Wednesday likely due to overall market strength following the Fed's decision to leave rates unchanged.
Shares have risen over 73% over the past month. The company began November with strong first-quarter results and guidance, fueling the stock's upward move. The month ended well for the company as well, bolstered by record U.S. Cyber Monday sales numbers. An upgrade from Jefferies analyst John Hecht, from Underperform to Hold, and an increase in the price target from $9.5 to $30, also helped push the stock higher. The stock received several other price changes during the month, ranging from $12 to $33.
More recently, the company has announced partnerships with Blackhawk Network and Zenni Optical.
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AFRM Price Action: Shares of AFRM were up 12.3% at $44.40 at the close of the market, according to Benzinga Pro.
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