Affirm Holdings Inc. (AFRM) shares are experiencing a surge on Tuesday, buoyed by a combination of positive market sentiment and the announcement of a new partnership. The broader market is showing strength following the release of softer-than-expected Producer Price Index (PPI) figures, providing a favorable backdrop for AFRM’s gains.
Adding to the positive momentum, Affirm has announced an expanded partnership with Tekmetric, a leading provider of auto repair shop management software. This partnership will allow customers to utilize Affirm’s ‘buy now, pay later’ (BNPL) services for both online and in-person auto repair needs.
“Consumers increasingly expect payment flexibility at checkout,” remarked Pat Suh, SVP of Revenue at Affirm. “With a recent Affirm survey revealing that more than half of respondents have used or would use ‘buy now, pay later’ options, our partnership with Tekmetric empowers auto repair shops leveraging their platform to meet this consumer demand and accelerate revenue growth.”
This move further underscores Affirm’s commitment to expanding its reach and offering convenient payment solutions across diverse industries. The company is set to report its fourth-quarter results on August 28th, with analysts expecting losses of 51 cents per share and quarterly revenue of $603.661 million. Affirm has consistently surpassed consensus estimates in recent quarters, showcasing its robust performance.
While AFRM doesn’t currently offer dividends, the company has several avenues to return value to shareholders. Investors interested in dividend-paying companies can refer to Benzinga’s dividend calendar for upcoming payments and corresponding yields.
Affirm’s share buyback programs also serve as a potential source of value for investors. These programs can provide support for share prices by increasing demand for the stock. Currently, AFRM shares are up 3.89% at $26.15, indicating a positive market response to the company’s recent developments and broader market trends.
