Barclays Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price objective increased by Barclays from $64.00 to $75.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently commented on AFRM. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, October 8th. Bank of America increased their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Mizuho lifted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $51.13.

Affirm Stock Performance

Shares of AFRM stock opened at $69.35 on Monday. The stock’s 50-day moving average price is $47.39 and its 200 day moving average price is $37.01. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $21.78 billion, a PE ratio of -48.84 and a beta of 3.47. Affirm has a 52-week low of $22.25 and a 52-week high of $70.20.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the previous year, the company posted ($0.57) earnings per share. As a group, equities research analysts forecast that Affirm will post -0.53 EPS for the current year.

Insider Activity

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 671,100 shares of company stock worth $38,575,547 over the last ninety days. 12.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC purchased a new position in shares of Affirm during the second quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Affirm during the 3rd quarter worth $29,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the last quarter. ORG Partners LLC grew its position in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.