Affirm (NASDAQ:AFRM) Given New $100.00 Price Target at Mizuho

Affirm (NASDAQ:AFRM) had its price target increased by Mizuho from $95.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 57.43% from the stock’s current price.

Several other equities research analysts also recently weighed in on AFRM. BMO Capital Markets assumed coverage on shares of Affirm in a research note on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price for the company. BTIG Research reiterated a “neutral” rating on shares of Affirm in a research note on Thursday, February 26th. Compass Point reiterated a “buy” rating and set a $68.00 target price on shares of Affirm in a research note on Wednesday, February 18th. Oppenheimer reiterated an “outperform” rating and set a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. Finally, Morgan Stanley set a $79.00 target price on shares of Affirm and gave the stock an “overweight” rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Affirm Price Performance

Shares of AFRM opened at $63.52 on Thursday. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a market capitalization of $21.16 billion, a price-to-earnings ratio of 57.75, a price-to-earnings-growth ratio of 4.15 and a beta of 3.72. The firm has a 50-day simple moving average of $54.01 and a 200-day simple moving average of $62.91. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.41 and a current ratio of 11.32.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. On average, equities research analysts anticipate that Affirm will post 1.13 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $55.00, for a total value of $110,000.00. Following the completion of the sale, the director owned 38,076 shares in the company, valued at $2,094,180. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AFRM. Royal Bank of Canada increased its holdings in Affirm by 2.1% in the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after buying an additional 3,892 shares in the last quarter. Empowered Funds LLC increased its holdings in Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after buying an additional 8,014 shares in the last quarter. Focus Partners Wealth purchased a new position in Affirm in the first quarter valued at about $243,000. EverSource Wealth Advisors LLC increased its holdings in Affirm by 18.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after buying an additional 427 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Affirm by 44.8% in the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after buying an additional 59,297 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.