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☆ There's a momentum in adoption for 'buy now, pay later,' says Jefferies' John Hecht
▼ + stars: | 2023-11-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a momentum in adoption for 'buy now, pay later,' says Jefferies' John HechtJohn Hecht of Jefferies joins 'The Exchange' to discuss the 'buy now, pay later' boost, the outperformance of Affirm, and more.

Persons: Jefferies, John Hecht John Hecht

Analyst Brad Capuzzi's $8 price target is 43% above where the stock closed on Monday afternoon. "Shares have substantially outperformed this year; catalyzed by the exit of the logistics business & newfound emphasis on profitability," wrote analyst Clarke Jeffries. Bank of America's Vivek Arya lifted his price target to $1,200, or more than a 26% increase from the stock's Monday close of $950.24. Herbert upgraded Boeing to outperform from sector perform and lifted his price target to $275 from $200. "We believe we are in the early stages of a significant shift in sentiment on BA stock," analyst Ken Herbert wrote.

Persons: Jefferies, Piper Sandler, Brad Capuzzi's, Capuzzi, Lisa Kailai Han, Goldman Sachs, Keith Horowitz, Horowitz, Goldman, — Lisa Kailai Han, Clarke Jeffries, Jeffries, Bernstein, Peter Weed, Weed, UBS downgrades ChargePoint, Robert Jamieson, Jamieson, bode, Timothy Arcuri, America's Vivek Arya, Arcuri, Arya, Herbert, Ken Herbert, John Hecht, Fred Imbert Organizations: CNBC, Tuesday's, RBC, Boeing, UBS, Citi Citi, UBS downgrades, UBS doesn't, Broadcom, VMWare, Bank of America, Bank, America's, RBC Capital Markets, —, Jefferies Locations: underperform, LendingClub, Goldman Sachs

NEW YORK, Nov 9 (Reuters) - Shares of Affirm Holdings (AFRM.O) surged by nearly 25% on Thursday as strong demand for the buy-now-pay-later (BNPL) lender's services and higher interest rates underpinned quarterly results that beat analysts' estimates. Affirm's gross merchandise value (GMV) rose 28% to $5.6 billion, which allowed net revenue to jump 37% to $496.5 million for the quarter ended Sept 30. The company's net loss narrowed to $171.8 million, down nearly 32% from a loss of $251.3 million a year earlier. Analysts had expected gross merchandise value of $5.4 billion, net revenue of $448.5 million, and a net loss of $219.6 million, according to LSEG data. Affirm said it expects GMV to reach between $6.7 billion and $6.9 billion in the current quarter, and net revenue to come in between $495 million and $520 million.

Persons: Max Levchin, John Hecht, Chibuike Oguh, Bill Berkrot Organizations: Holdings, Analysts, Wedbush, Bank of America Global Research, UBS, Jefferies, Amazon.com, Amazon Business, Thomson Locations: New York

NEW YORK, July 31 (Reuters) - Shares of SoFi Technologies Inc (SOFI.O) rose by more than 22% on Monday, hitting highest level in more than a year, after the financial services provider reported second quarter results that beat analyst expectations. That result exceeded the average analyst estimate of $476.2 million and $261.3 million for SoFi's revenue and NII, according to Refinitiv data. SoFi's shares rose as high as $11.70, the highest level since March last year, before closing at $11.45 on Monday - a nearly 20% gain from the previous session. "(Second quarter) results beat expectations and were largely positive with continued rapid member and deposit growth," Jefferies analysts, led by John Hecht, said in an investor note. "We highlight that results were more from net interest income and less from fair value marks relative to our forecast, which represents recurring revenues," the analysts added.

Persons: John Hecht, Jefferies, Chibuike Oguh, Medha Singh, Nick Zieminski, Susan Heavey Organizations: YORK, SoFi Technologies, JPMorgan, Jefferies, Wall, Thomson Locations: San Francisco, New York, Bangalore

☆ Here are Friday's biggest analyst calls: SoFi Technologies, AutoZone, Nvidia, Meta and more
▼ + stars: | 2023-06-16 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Bank of America downgrades SoFi Technologies to neutral from buy The downgrade follows SoFi' s recent rally. Our C$51 Price Target is 39% above the current stock price and we see close to 3:1 upside/downside skew." UBS upgrades AutoZone to buy from neutral Analyst Michael Lasser raised the price target to $2,900 from $2,800. Wells Fargo initiates Neogen Corporation at overweight and $22 price target Wells Fargo said it liked the company's improving margins. Wells Fargo initiates Bio-Rad Laboratories Inc. at overweight and $550 price target Wells said Bio-Rad's valuation is attractive at current levels.

Persons: Jefferies, John Hecht, LendingClub, Morgan Stanley, Mauricio Serna, Aritzia, Michael Lasser, Carvana, it's, Wells, Ph3, Wells Fargo, Piper Sandler, TD Cowen downgrades, LOE, Michael Bloom Organizations: . Bank of America, Technologies, Nvidia, Bank of America, UBS, West Pharmaceutical Services, Stevanato, MorphoSys, Neogen, Rad Laboratories Inc, SoFi Technologies, Health Companies Locations: EBITDA, 4Q23, BLCO

☆ Top Wall Street analysts expect these five stocks to fetch attractive returns
▼ + stars: | 2023-04-09 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Meta PlatformsWeakness in digital ad spending due to macro pressures has hit social media giant Meta Platforms (META) over the recent quarters. SoFi TechnologiesNext on our list is fintech firm SoFi Technologies (SOFI), which offers digital financial services to over 5.2 million members. The acquisition is expected to drive SoFi's mortgage growth and operational efficiencies and broaden its mortgage product offerings. (See SoFi Insider Trading Activity on TipRanks)PVHApparel company PVH (PVH), which owns popular brands like Calvin Klein and Tommy Hilfiger, delivered better-than-expected results for the fourth quarter of fiscal 2022. The analyst sees "an attractive risk reward profile" in PVH stock based on the company's earnings growth potential and current valuation.

The valuations of listed financial technology firms have plunged 70% in 2022, analysts at Jefferies Group said in a note last week. The Columbus, Ohio regional bank is scouring for more targets after it bought Torana, a payments fintech, in May. PNC Financial Services Inc (PNC.N) in September bought Linga, a fintech focused on restaurant operations and sales. The slide in fintech valuations coincides with banks earning more from traditional lending businesses as interest rates rise. Fintech deals enable banks to buy new technology or products instead of developing them in-house.

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