Affirm Tops EPS Estimates by 76% Last Quarter; Can Thursday's Earnings Repeat?

Affirm Holdings Inc. shares are in focus Thursday, with upcoming earnings, recent analyst activity, the stock's technical posture above its 50-day moving average, and its Edge score all drawing market attention.

Affirm shares are building positive momentum. Why is AFRM climbing?

Earnings Preview and History

Affirm is scheduled to report fiscal fourth-quarter 2026 earnings after the market close on August 27. Analysts expect earnings per share of 34 cents on revenue of approximately $11.1 billion, up 26.2% year over year. Last quarter, Affirm reported revenue of $10.4 billion, up 33% year over year, with gross merchandise volume up 35% to $11.6 billion. EPS came in at 30 cents, well above the consensus estimate of 17 cents.

Investors Eye Affirm's Credit Trends

Investors will be closely watching credit quality and delinquency trends, especially after rival Klarna Group Plc disclosed deteriorating loan performance in Germany. Entering the quarter, Affirm's 30+ day delinquency rate on monthly installment loans stood at 2.8%, with credit loss reserves at 6.0% of loans held for investment.

GMV growth will also be in focus, with management guiding to GMV of $13.15 billion to $13.45 billion and revenue of $10.8 billion to $11.1 billion for the quarter. Comments on Affirm Card expansion, active merchant and consumer growth, and funding cost trends will provide additional signals on whether the company can sustain its recent pace of margin improvement heading into fiscal 2027.

Analyst Consensus and Recent Rating Changes

The stock carries a Buy rating with an average price target of $93.09. Recent analyst adjustments include:

Morgan Stanley: Equal Weight

Oppenheimer: Outperform

Holding Above the 50-Day Moving Average

Affirm shares are trading above the 20-day simple moving average and just above the 50-day simple moving average, placing the stock back in a "line of defense" zone where short-term trend followers typically look for support to hold. The stock also remains well above the 100-day and 200-day simple moving averages, reinforcing that the larger uptrend formed earlier this year remains intact.

Momentum indicators are neutral: the relative strength index stands at 51.06, suggesting the stock is not overextended in either direction and is more likely to react to key price levels than to mean-revert from extremes. The neutral RSI also aligns with the mixed signals from the moving averages, as the 20-day remains below the 50-day even though the longer-term "golden cross" formed in June is still in place.

Nearby price levels are fairly clear, and traders may watch whether the stock can establish acceptance above the mid-$70s and make another run at the next resistance level. If the recent support zone fails to hold, focus shifts back to the low $70s, where buyers have previously emerged.

Key resistance: $81.00 — a round-number zone that could act as a short-term ceiling after a rebound

Key support: $71.50 — a nearby floor near the stock's medium-term trend zone

Edge Score

Here is Affirm Holdings' Edge scorecard, highlighting its strengths and weaknesses relative to the broader market:

Momentum: Bullish — The stock's trend profile is stronger than the market's, which could allow a breakout to extend if support holds.

Value: Neutral — Valuation is not "cheap," but it is not the weakest factor in the Edge score, suggesting the stock is driven more by growth expectations than deep value.

Growth: Bullish — The market views AFRM as a growth story, which could amplify volatility when risk appetite improves.

Conclusion: Affirm's Edge signals reveal a growth-heavy, momentum-driven profile, with the strongest readings coming from growth and momentum rather than value. For long-term bulls, this setup works best if the stock can consistently hold the mid-$70s zone and eventually reclaim $81.00, as the scorecard implies the market remains willing to pay a premium for upside.

Affirm Shares Edge Higher

AFRM price action: At the time of publication, Affirm shares were up 1.16% at $77.35.