Wedbush Raises Affirm (NASDAQ:AFRM) Price Target to $25.00

Affirm (NASDAQ:AFRM) had its target price boosted by Wedbush from $20.00 to $25.00 in a report released on Thursday, Benzinga reports. The firm currently has an underperform rating on the stock.

AFRM has been the topic of several other reports. BMO Capital Markets decreased their price objective on shares of Affirm from $48.00 to $46.00 and set a market perform rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $43.00 to $45.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. JMP Securities initiated coverage on Affirm in a report on Friday, June 28th. They issued a market perform rating for the company. Mizuho restated an outperform rating and issued a $65.00 price objective on shares of Affirm in a research report on Tuesday. Finally, Needham & Company LLC reissued a hold rating on shares of Affirm in a research note on Thursday. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Affirm has a consensus rating of Hold and a consensus price target of $33.79.

Affirm Stock Performance

Shares of AFRM opened at $41.66 on Thursday. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm has a 52-week low of $15.97 and a 52-week high of $52.48. The company has a 50-day simple moving average of $29.15 and a 200-day simple moving average of $32.38. The company has a market capitalization of $12.88 billion, a PE ratio of -18.68 and a beta of 3.45.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company had revenue of $659.19 million during the quarter, compared to analysts’ expectations of $599.50 million. Equities research analysts predict that Affirm will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.89, for a total transaction of $277,259.64. Following the completion of the sale, the director now owns 73,623 shares in the company, valued at approximately $2,200,591.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Affirm in the 4th quarter worth approximately $1,698,000. Charles Schwab Investment Management Inc. boosted its holdings in Affirm by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after purchasing an additional 72,178 shares during the period. Avantax Advisory Services Inc. bought a new stake in Affirm during the first quarter valued at $258,000. Principal Financial Group Inc. raised its holdings in shares of Affirm by 34.3% during the first quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock worth $710,000 after purchasing an additional 4,868 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the last quarter. 69.29% of the stock is 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.