Affirm (NASDAQ:AFRM) Price Target Raised to $80.00

Affirm (NASDAQ:AFRM) had its target price increased by Bank of America from $76.00 to $80.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Affirm in a report on Thursday, March 20th. Morgan Stanley dropped their price objective on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Evercore ISI began coverage on Affirm in a research note on Wednesday, April 9th. They set an “outperform” rating and a $50.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on Affirm from $85.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Affirm Stock Down 14.4%

Shares of AFRM stock opened at $46.44 on Friday. Affirm has a twelve month low of $22.25 and a twelve month high of $82.53. The stock has a market cap of $14.77 billion, a P/E ratio of -71.45 and a beta of 3.66. The stock has a 50 day moving average of $46.42 and a 200 day moving average of $56.81. 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 posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $783.14 million during the quarter, compared to analysts’ expectations of $782.98 million. During the same period in the previous year, the business posted ($0.43) EPS. The business’s revenue was up 35.9% compared to the same quarter last year. As a group, sell-side analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were 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 in the company, valued at $10,986,000. The trade was a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith Rabois sold 16,089 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director now owns 29,343 shares of the company’s stock, valued at $1,496,493. This represents a 35.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,765 shares of company stock worth $3,094,694 in the last quarter. Company insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AFRM. Allworth Financial LP increased its stake in Affirm by 63.7% during 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. purchased a new position in shares of Affirm during the 4th quarter worth $28,000. Geneos Wealth Management Inc. increased its position 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 acquired a new stake in shares of Affirm during the 4th quarter worth about $33,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in Affirm in the 4th quarter valued at about $40,000. 69.29% of the stock is currently 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.