Affirm (NASDAQ:AFRM) Price Target Raised to $64.00

Affirm (NASDAQ:AFRM) had its price objective raised by equities research analysts at Barclays from $54.00 to $64.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 0.06% from the stock’s current price.

AFRM has been the subject of several other reports. Bank of America raised their target price on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. The Goldman Sachs Group raised their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company upped their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.85.

Affirm Trading Up 3.1 %

AFRM opened at $63.96 on Monday. Affirm has a 12 month low of $22.25 and a 12 month high of $64.01. The stock has a fifty day moving average price of $45.50 and a 200-day moving average price of $36.11. The firm has a market cap of $20.09 billion, a price-to-earnings ratio of -45.04 and a beta of 3.47. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the company posted ($0.57) earnings per share. As a group, equities research analysts anticipate that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 122,069 shares in the company, valued at approximately $5,493,105. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 403,738 shares of company stock worth $21,115,878. Insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of AFRM. Dragoneer Investment Group LLC purchased a new position in shares of Affirm in the 2nd quarter valued at about $45,219,000. Vanguard Group Inc. grew its holdings in 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 during the period. Artemis Investment Management LLP purchased a new stake in shares of Affirm in the third quarter valued at approximately $30,808,000. Holocene Advisors LP acquired a new position in shares of Affirm during the 3rd quarter worth approximately $27,872,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.