Mizuho Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price objective increased by equities research analysts at Mizuho from $65.00 to $69.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 13.86% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. The Goldman Sachs Group upped their price objective on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Bank of America raised their price objective on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Barclays raised their target price on shares of Affirm from $54.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.85.

Affirm Price Performance

AFRM stock opened at $60.60 on Tuesday. The stock has a market cap of $19.03 billion, a price-to-earnings ratio of -42.15 and a beta of 3.47. Affirm has a 1 year low of $22.25 and a 1 year high of $62.88. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The company has a 50 day simple moving average of $44.96 and a 200 day simple moving average of $35.90.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the prior year, the firm posted ($0.57) EPS. Research analysts anticipate that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction 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 approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. 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 ninety days. 12.41% of the stock is owned by insiders.

Institutional Trading of Affirm

A number of institutional investors have recently modified their holdings of AFRM. Vanguard Group Inc. boosted its position in shares of Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors boosted its holdings in Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after buying an additional 77,050 shares in the last quarter. Spyglass Capital Management LLC grew its position in Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after buying an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares in the last quarter. Finally, Dragoneer Investment Group LLC acquired a new stake in shares of Affirm during the 2nd quarter valued at approximately $45,219,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.