Affirm (NASDAQ:AFRM) Given New $54.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its price objective raised by equities researchers at Barclays from $50.00 to $54.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 20.89% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Susquehanna began coverage on shares of Affirm in a research report on Friday. They issued a “positive” rating and a $52.00 target price for the company. Wedbush lifted their price target on shares of Affirm from $20.00 to $25.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Mizuho restated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, September 6th. Finally, Royal Bank of Canada raised 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, August 29th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $35.53.

Affirm Trading Down 0.6 %

Shares of Affirm stock traded down $0.26 during trading on Monday, hitting $44.67. 7,473,644 shares of the company were exchanged, compared to its average volume of 8,763,246. The firm has a market capitalization of $13.81 billion, a P/E ratio of -20.03 and a beta of 3.51. The firm’s fifty day moving average price is $33.02 and its 200 day moving average price is $32.69. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. Affirm has a 1-year low of $15.97 and a 1-year high of $52.48.

Affirm (NASDAQ:AFRM) last posted 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. The firm had revenue of $659.19 million during the quarter, compared to analysts’ expectations of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. As a group, sell-side analysts expect that Affirm will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,351 shares of company stock valued at $5,081,045. 13.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors lifted its position in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after purchasing an additional 77,050 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after purchasing an additional 749,368 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Affirm in the 2nd quarter worth about $45,219,000. Finally, Norges Bank purchased a new stake in Affirm in the 4th quarter valued at about $67,310,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.