This Stock Has Surged 53% Since Black Friday. Here's Why I'm Not Buying It Quite Yet.
U.S. consumers have shown surprising resilience this year, which was on full display this Black Friday. According to data from Analytics, sales during the holiday shopping week increased 7.5% compared to 2022.
Sales exceeded expectations thanks, in part, to deep discounts on numerous products and the increased use of flexible payment options, such as buy now, pay later (BNPL). According to Adobe, orders using BNPL for the Thanksgiving week were up 72% compared to last year, resulting in a $79 million increase in revenue for those providers.
One company that benefits from the increased usage of BNPL is Affirm (NASDAQ: AFRM). Affirm stock has surged higher this year thanks to its partnerships with major e-commerce providers. The recent uptick in BNPL usage during the holiday shopping season is another positive sign for the company, whose stock has surged 44% since the post-holiday shopping day.
Source Fool.com
Adobe Inc. Stock
The stock is one of the favorites of our community with 60 Buy predictions and 2 Sell predictions.
With a target price of 588 € there is a slightly positive potential of 13.16% for Adobe Inc. compared to the current price of 519.6 €.
