Barclays Increases Affirm (NASDAQ:AFRM) Price Target to $50.00

Affirm (NASDAQ:AFRM) had its target price lifted by equities research analysts at Barclays from $41.00 to $50.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 13.61% from the stock’s current price.

A number of other brokerages also recently issued reports on AFRM. Royal Bank of Canada upped their price objective on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday. Bank of America raised their price objective on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho reiterated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research note on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Thursday. Finally, Wedbush upped their price objective on Affirm from $20.00 to $25.00 and gave the company an “underperform” rating 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.32.

Affirm Stock Performance

AFRM stock opened at $44.01 on Friday. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. The firm has a market cap of $13.60 billion, a PE ratio of -19.74 and a beta of 3.45. The business has a 50 day moving average of $29.43 and a 200-day moving average of $32.33. Affirm has a 12-month low of $15.97 and a 12-month high of $52.48.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.89, for a total transaction of $277,259.64. Following the sale, the director now directly owns 73,623 shares in the company, valued at $2,200,591.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new position in Affirm during the fourth quarter worth about $1,698,000. Van ECK Associates Corp purchased a new position in shares of Affirm during the fourth quarter worth about $1,266,000. Victory Capital Management Inc. increased its position in shares of Affirm by 25.2% in the fourth quarter. Victory Capital Management Inc. now owns 30,333 shares of the company’s stock worth $1,491,000 after purchasing an additional 6,101 shares during the last quarter. Essex Financial Services Inc. purchased a new stake in Affirm in the fourth quarter valued at approximately $206,000. Finally, West Family Investments Inc. bought a new stake in Affirm during the fourth quarter valued at approximately $239,000. 69.29% of the stock is currently 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.