Affirm Holdings (NASDAQ: AFRM) Gains Analyst Support After Strong Q4

• Scotiabank initiated coverage of Affirm with a Sector Outperform rating and a $95 price target after the company’s fiscal fourth-quarter results.
• Bernstein raised its target to $110 from $100 and kept Outperform.
• Needham lifted its target to $100 from $90 and kept Buy.

On August 27, 2026, Affirm reported Q4 revenue of $1.17 billion, up 33% year over year and above consensus of about $1.11 billion. Gross merchandise volume (GMV) rose 36% to $14.1 billion. Revenue less transaction costs increased 39% to $589.1 million. GAAP operating income rose to $147.3 million from $58.1 million, while adjusted operating income increased 49% to $353.4 million.

Adjusted operating margin reached about 30%. GAAP diluted EPS of $4.62 included a roughly $1.45 billion tax benefit from releasing a deferred-tax valuation allowance and should not be read as fully recurring profit. Active consumers grew 21% to 27.8 million. Active Affirm Card users more than doubled to 5.2 million.

Transactions rose 41% to about 52.9 million. For fiscal 2027, Affirm guided GMV above $64 billion, with an adjusted operating margin above 30.5%. Q1 FY27 revenue guidance of $1.19–$1.22 billion was about 4% above then-consensus at the midpoint.Shares closed September 1 at $69.94, down 6.06% after an earlier post-earnings rally.