JPMorgan Chase & Co. Raises Affirm (NASDAQ:AFRM) Price Target to $56.00

Affirm (NASDAQ:AFRM) had its price objective increased by analysts at JPMorgan Chase & Co. from $47.00 to $56.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 20.48% from the company’s current price.

AFRM has been the topic of a number of other research reports. Mizuho reissued an “outperform” rating and issued a $65.00 price objective on shares of Affirm in a research report on Tuesday, August 27th. Bank of America boosted their price objective on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Susquehanna upped their price target on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.03.

Affirm Stock Down 4.7 %

Affirm stock opened at $46.48 on Friday. The company has a 50 day moving average of $42.98 and a 200-day moving average of $34.87. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $14.46 billion, a PE ratio of -27.67 and a beta of 3.47. Affirm has a twelve month low of $21.87 and a twelve month high of $52.48.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. The business had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, equities research analysts anticipate that Affirm will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares in the company, valued at approximately $5,493,105. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Affirm news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,800 shares of company stock worth $4,554,288 over the last three months. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new position in shares of Affirm in the 3rd quarter valued at $29,000. Ridgewood Investments LLC bought a new position in shares of Affirm in the 2nd quarter valued at $27,000. Advisors Asset Management Inc. increased its stake in shares of Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the last quarter. 69.29% of the stock is 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.