Affirm (NASDAQ:AFRM) Given New $64.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its target price upped by equities research analysts at Barclays from $54.00 to $64.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 12.56% from the stock’s current price.

A number of other brokerages have also issued reports on AFRM. Mizuho reissued an “outperform” rating and issued a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Susquehanna lifted their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Finally, Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.62.

Affirm Stock Up 1.3 %

Shares of NASDAQ:AFRM opened at $56.86 on Monday. The stock’s 50-day moving average price is $44.49 and its two-hundred day moving average price is $35.71. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 12-month low of $22.25 and a 12-month high of $59.27. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of -40.04 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same period last year, the company earned ($0.57) EPS. On average, research analysts forecast that Affirm will post -0.53 EPS for the current year.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now owns 93,545 shares of the company’s stock, valued at $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,738 shares of company stock worth $21,115,878 in the last three months. 12.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Affirm by 2,305.3% in the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $731,000. Avantax Advisory Services Inc. bought a new stake in shares of Affirm in the 1st quarter valued at approximately $258,000. Versor Investments LP bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $755,000. Finally, Dragoneer Investment Group LLC bought a new stake in shares of Affirm in the 2nd quarter valued at approximately $45,219,000. 69.29% of the stock is currently owned by institutional investors.

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.