Affirm (NASDAQ:AFRM) Given Overweight Rating at Barclays

Affirm (NASDAQ:AFRM)‘s stock had its “overweight” rating reiterated by analysts at Barclays in a research note issued on Monday, MarketBeat reports. They currently have a $67.00 price target on the stock, up from their prior price target of $53.00. Barclays‘s target price suggests a potential upside of 9.84% from the company’s current price.

Other equities analysts have also issued reports about the stock. Evercore ISI initiated coverage on shares of Affirm in a research report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $61.00 to $64.00 in a research report on Wednesday, March 19th. Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research report on Monday, March 24th. Finally, Truist Financial initiated coverage on Affirm in a report on Monday, June 2nd. They issued a “buy” rating and a $58.00 target price for the company. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and an average target price of $64.85.

Affirm Stock Performance

Shares of AFRM opened at $61.00 on Monday. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a market cap of $19.68 billion, a PE ratio of -93.85 and a beta of 3.58. The company’s 50 day simple moving average is $48.57 and its 200-day simple moving average is $56.94. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53.

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

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,089 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total value of $820,539.00. Following the sale, the director now directly owns 29,343 shares of the company’s stock, valued at approximately $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’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 transaction of $114,450.00. Following the completion of the sale, the director now directly owns 38,997 shares in the company, valued at $1,785,282.66. This represents a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,677 shares of company stock valued at $1,665,545. Insiders own 11.82% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of AFRM. Allworth Financial LP boosted its position in shares of Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 219 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Affirm during the fourth quarter valued at approximately $28,000. Coppell Advisory Solutions LLC acquired a new position in Affirm during the fourth quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Affirm during the fourth quarter valued at approximately $43,000. Finally, Creative Financial Designs Inc. ADV lifted its position in Affirm by 640.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company’s stock valued at $45,000 after buying an additional 640 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

About Affirm

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.