Barclays Reiterates Overweight Rating on Affirm Stock Post Apple Pay Tie-Up

What's the News?

Barclays has reiterated its Overweight rating on Affirm stock, following the news of its partnership with Apple Pay. The move allows Affirm customers to use the popular mobile payment service to make purchases both online and in-store.

Why is it Important?

The partnership with Apple Pay is a significant development for Affirm, as it gives the company access to a vast new customer base. Apple Pay is one of the most popular mobile payment services in the world, with over 500 million active users. This partnership will allow Affirm to reach a much wider audience and grow its business.

What Does it Mean for Investors?

The partnership with Apple Pay is a positive development for Affirm investors. The move is expected to boost the company's revenue and earnings, and it could lead to a higher stock price in the long term. Barclays has set a price target of $120 for Affirm stock, which represents a potential upside of over 30% from the current price.

Conclusion

The partnership between Affirm and Apple Pay is a major development for the company and its investors. The move will give Affirm access to a vast new customer base, and it is expected to boost the company's revenue and earnings. Barclays has reiterated its Overweight rating on Affirm stock, with a price target of $120.