Affirm (NASDAQ:AFRM) Price Target Raised to $53.00

Affirm (NASDAQ:AFRM) had its price target boosted by investment analysts at Barclays from $45.00 to $53.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 5.23% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Wells Fargo & Company decreased their target price on Affirm from $85.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, February 7th. UBS Group lowered their price target on Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday. TD Cowen began coverage on Affirm in a report on Tuesday, April 8th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Seaport Res Ptn raised Affirm to a “hold” rating in a research note on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.95.

Affirm Stock Performance

AFRM stock opened at $50.36 on Monday. The business has a 50 day moving average of $46.42 and a 200-day moving average of $56.81. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The firm has a market cap of $16.02 billion, a PE ratio of -76.43 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The firm had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. During the same quarter in the prior year, the business posted ($0.43) earnings per share. The business’s quarterly revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now owns 38,997 shares of the company’s stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,765 shares of company stock valued at $3,094,694. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds have recently bought and sold shares of the company. Hanseatic Management Services Inc. raised its holdings in Affirm by 12.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after purchasing an additional 194 shares in the last quarter. KLP Kapitalforvaltning AS raised its stake in shares of Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock worth $2,219,000 after buying an additional 200 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the period. HB Wealth Management LLC boosted its stake in Affirm by 2.2% during the first quarter. HB Wealth Management LLC now owns 11,471 shares of the company’s stock valued at $518,000 after buying an additional 252 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Affirm by 2.1% during the first quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock worth $622,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.