Affirm Stock Has Outperformed SoFi In April – Now Earnings Must Prove The Hype

• Analysts expect Affirm Holdings to post a revenue of $995.27 million for the quarter, a 27% increase year-on-year. 
• In April, Morgan Stanley analyst James Faucette named the company his Top Pick, citing upward estimate revision potential, "overdone" private credit fears, and a strong catalyst path. 
• AFRM stock has a 12-month average price target of $79.08, according to Koyfin, indicating an upside potential of about 20.6% from its last close.

Fintech company Affirm Holdings Inc. (AFRM) saw its shares rally by over 40% in April on the back of its expanding buy now, pay later (BNPL) network, positive analyst sentiment, including a "top pick" designation by Morgan Stanley, and an expanded partnership with Stripe to support agentic commerce.

Meanwhile, shares of its competitor, SoFi Technologies Inc. (SOFI), increased about 1.4% last month.

The San Francisco, California-based BNPL company is slated to post its third-quarter (Q3) 2026 results on Thursday after market hours, which will be a test for the company’s continued momentum.

Affirm Q3: Wall Street Expectations

Analysts expect Affirm Holdings to post a revenue of $995.27 million for the quarter, a growth of about 27% compared to the same period last year, according to data from Fiscal.ai. The company is expected to report earnings per share of $0.73, compared to $0.19 posted in Q3 2025.

In the previous quarter, Affirm exceeded expectations, reporting $1.12 billion in revenue, a 30% year-over-year increase. The company also beat EPS expectations.

Analysts and investors will be looking out for the company’s gross merchandise volume, change in active merchants and consumers, as well as its cost and operating margins.

What’s Working For Affirm?

As of early 2026, Affirm partners with nearly 420,000 merchants. The company announced an exclusive collaboration with Fiserv, Inc. (FISV) in January to extend pay-over-time capabilities to debit card programs.

Affirm also expanded its partnership with Stripe to support Shared Payment Tokens (SPT) for AI-agentic commerce. The company also supports Google’s Agent-to-Agent Protocol (AP2) and the Universal Commerce Protocol (UCP).

In April, Morgan Stanley analyst James Faucette named Affirm as the analyst's Top Pick, citing upward estimate revision potential, "overdone" private credit fears, and a strong catalyst path, according to TheFly. The analyst has an ‘Overweight’ rating and $76 price target on Affirm shares.

AFRM stock has a 12-month average price target of $79.08 based on 30 analysts covering it, according to data from Koyfin. This indicates an upside potential of about 20.6% compared to its last close.

Retail Stance On Affirm

On Stocktwits, retail sentiment around AFRM stock was in the ‘bearish’ territory at the time of writing amid ‘normal’ message volumes.

AFRM stock has declined more than 11% this year. Meanwhile, SOFI stock has declined more than 40% this year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also Read: FLNC Stock Rips Overnight: Record Backlog, Hyperscaler Deals Boost Momentum