UBS Group Cuts Affirm (NASDAQ:AFRM) Price Target to $56.00

Affirm (NASDAQ:AFRM) had its target price cut by UBS Group from $62.00 to $56.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

AFRM has been the topic of several other research reports. Royal Bank of Canada increased their price target on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. JMP Securities decreased their price objective on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their target price on Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a report on Friday. BMO Capital Markets reissued an “outperform” rating and issued a $69.00 price target on shares of Affirm in a report on Thursday, March 20th. Finally, Morgan Stanley dropped their price objective on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Affirm Trading Down 14.4%

Shares of Affirm stock opened at $46.44 on Friday. The firm’s 50 day simple moving average is $46.42 and its two-hundred day simple moving average is $56.81. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of -71.45 and a beta of 3.66. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last issued 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. The company had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.43) EPS. Analysts predict that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction that occurred on Thursday, May 1st. The stock was 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 $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 disclosure for this sale can be found here. In the last three months, insiders sold 55,765 shares of company stock worth $3,094,694. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its holdings in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Affirm in the fourth quarter valued at approximately $33,000. Allworth Financial LP grew 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 valued at $27,000 after purchasing an additional 219 shares in the last quarter. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Affirm in the fourth quarter valued at approximately $40,000. 69.29% of the stock is owned by hedge funds and other 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.