Affirm (NASDAQ:AFRM) Price Target Lowered to $110.00 at TD Cowen

Affirm (NASDAQ:AFRM) had its price target dropped by TD Cowen from $115.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective points to a potential upside of 34.08% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wolfe Research initiated coverage on shares of Affirm in a research note on Tuesday, December 9th. They issued a “peer perform” rating on the stock. Truist Financial dropped their price objective on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Evercore ISI restated an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Wells Fargo & Company initiated coverage on Affirm in a research report on Tuesday, October 21st. They set an “overweight” rating and a $89.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $89.17.

Affirm Stock Performance

Affirm stock traded down $1.01 during mid-day trading on Thursday, reaching $82.04. The company’s stock had a trading volume of 1,832,197 shares, compared to its average volume of 4,129,853. The firm’s fifty day moving average price is $71.82 and its two-hundred day moving average price is $73.92. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. Affirm has a 12-month low of $30.90 and a 12-month high of $100.00. The company has a market capitalization of $27.08 billion, a P/E ratio of 122.53, a PEG ratio of 3.74 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million during the quarter, compared to analyst estimates of $881.83 million. During the same period last year, the company earned ($0.31) earnings per share. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. Sell-side analysts predict that Affirm will post -0.18 EPS for the current fiscal year.

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the transaction, the chief financial officer owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The disclosure for this sale is available in the SEC filing. Insiders sold 711,256 shares of company stock worth $57,231,923 in the last 90 days. Corporate insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after acquiring an additional 3,892 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Affirm by 33.1% in the 1st quarter. Advisors Asset Management Inc. now owns 2,383 shares of the company’s stock worth $108,000 after purchasing an additional 593 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Affirm by 77.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 19,492 shares of the company’s stock worth $881,000 after buying an additional 8,534 shares during the last quarter. Empowered Funds LLC lifted its stake in Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after acquiring an additional 8,014 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Affirm by 8.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 720,730 shares of the company’s stock valued at $32,570,000 after acquiring an additional 56,401 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Company Profile

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.