MKM Partners Assumes Matador Resources at Buy

Needham analyst Kyle Peterson initiated coverage on Affirm Holdings with a Hold rating last week, and the analyst highlighted Affirm as a long-term winner in the buy-now pay-later space. However, he noted the company's large percentage of stock-based compensation as a drag on its valuation. Investors may also be considering the possibility of fewer rate cuts in 2024 following the Federal Reserve's last meeting. A slew of positive economic data could also be pointing to a resilient economy that could withstand higher rates for a longer period, allowing the Fed to leave interest rates untouched in the short-term.