Approximately 13 million consumers and 1.2 million merchants have used its BNPL services. In the fourth quarter, BNPL accounted for $3.2 billion in total payment volume (TPV), 325% higher than a year earlier. PayPal said in its fourth-quarter conference call that buy now, pay later is available in eight markets, including the U.S. In December, CEO Dan Schulman said PayPal had more than 750,000 BNPL transactions on Black Friday, 400% higher than a year earlier.
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The suit claims that PayPal doesn't sufficiently inform users of its "Pay in 4" offer about potential insufficient fund fees and overdraft charges.īuy now, pay later has become the latest revenue generator for the digital payments company. On March 1, a $5 million class action complaint was filed in a California federal court against the company. PayPal Holdings ( PYPL, $121.18) is the latest BNPL player to face a class action lawsuit. Analysts' ratings: 25 Strong Buy, 12 Buy, 10 Hold, 0 Sell, 1 Strong Sell."While we recognize that the stock will likely face near-term pressure, and revenue multiples are inherently subjective, we see Affirm a long-term winner in the nascent BNPL market," Jeffrey says, recommending investors add to their positions on future weakness. Truist analyst Andrew Jeffrey, for instance, lowered his price target on AFRM in March, to $55 per share from $100, putting the stock at 9.5 times calendar 2023 revenue at the time. It reported an adjusted operating loss of $7.9 million in the second quarter, and $53.0 million for the first half of 2022 – considerably higher than the $4.8 million loss it absorbed in the first half of 2021.Īnalysts have widely had to temper their expectations, but Wall Street largely still counts Affirm among the best buy now, pay later stocks to buy. Overall, revenues were 77% better YoY to $361.0 million.īut Affirm doesn't make money. Active merchants increased by 8,000, to 168,000, while active consumers rocketed 150% YoY to 11.2 million (and 29% sequentially from Q1). But speculative, high-growth companies unable to post profits have been specifically targeted, and AFRM fits that bill.įor instance, its fiscal second-quarter earnings report, out in February, revealed $4.5 billion in GMV that was 115% higher year-over-year (YoY). You can chalk some of that up to the broader market cooling off. The BNPL stock is down 76% in the roughly four months since. It hit $100 on its first day of trading, and as recently as November, Affirm's share price traded at a 52-week high of $176.65. Analysts' ratings: 5 Strong Buy, 3 Buy, 5 Hold, 0 Sell, 1 Strong SellĪffirm Holdings ( AFRM, $48.15), a San Francisco-based BNPL platform for digital and mobile-first commerce, went public at $49 per share in January 2021.Afterpay's gross merchandise volume (GMV) in fiscal 2021 was $19.7 billion, 74% higher than a year earlier.Īs for Block itself, CFO Amrita Ahuja pointed out in its Q4 2021 conference call with analysts that its Square Seller business had six revenue streams in 2021 that generated more than $100 million or more in gross profit, while its Cash App business had four revenue streams of more than $200 million in gross profit.īlock is one of the best-rated BNPL stocks to buy, boasting 36 Strong Buy or Buy ratings versus just nine Holds, one Sell and one Strong Sell. On the consumer side, it had more than 19 million annual active consumers, up 47%. It intends to further integrate Afterpay's platform throughout 2022.Īt the end of December, Afterpay had more than 122,000 annual active merchants, 64% higher than a year earlier. In late February, Block introduced Afterpay Buy Now Pay Later to its U.S.
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BNPL allows customers to receive products immediately and pay for their purchases over installments, free from interest and service fees for customers who pay on time." "Greater integration of these platforms has been a long-standing goal for the company. "We believe strong cross-selling opportunities exist between the companies, as Block integrates Afterpay into its Seller and Cash App platforms," says Argus Research analyst Stephen Biggar, who rates SQ stock at Buy. In fiscal 2021, Afterpay processed $22.4 billion in transactions.Īrgus Research discussed the Afterpay acquisition in a March 4 note to clients. The combination of Afterpay with Block's Seller and Square App platforms created a mobile payments giant with millions of customers and merchants around the world. Block granted 0.375 SQ shares for every Afterpay share held.
In early February, Square parent Block ( SQ, $146.84) jumped into the BNPL game in a big way by acquiring Australian-based Afterpay for $29 billion in stock.
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