Barclays Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its target price increased 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 price objective points to a potential downside of 1.74% from the company’s previous close.

Several other brokerages also recently issued reports on AFRM. Evercore ISI began coverage on Affirm in a research report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price objective for the company. TD Cowen began coverage on Affirm in a research report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price objective for the company. William Blair began coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating for the company. Wells Fargo & Company cut their price objective on Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group dropped their target price on Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Affirm Price Performance

Shares of AFRM stock opened at $53.94 on Monday. The stock’s fifty day simple moving average is $46.34 and its 200 day simple moving average is $56.88. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of -82.98 and a beta of 3.66. Affirm has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating 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 business had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same quarter in the previous year, the firm earned ($0.43) EPS. Affirm’s quarterly revenue was up 35.9% on a year-over-year basis. On average, analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other news, Director Keith Rabois sold 16,089 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the completion of the transaction, the director now directly owns 29,343 shares of the company’s stock, valued at $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 137,325 shares of the company’s stock, valued at $10,986,000. This represents a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,765 shares of company stock worth $3,094,694. 12.41% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Integris Wealth Management LLC acquired a new position in shares of Affirm during the fourth quarter worth about $750,000. Truist Financial Corp acquired a new position in Affirm during the fourth quarter valued at approximately $212,000. Essex Financial Services Inc. acquired a new position in Affirm during the fourth quarter valued at approximately $244,000. Diversify Advisory Services LLC boosted its position in Affirm by 8.7% during the fourth quarter. Diversify Advisory Services LLC now owns 116,743 shares of the company’s stock valued at $7,110,000 after purchasing an additional 9,364 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new position in Affirm during the fourth quarter valued at approximately $249,000. 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.