Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price target hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $45.00 to $75.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 5.80% from the stock’s previous close.

AFRM has been the subject of several other reports. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, October 8th. Mizuho lifted their target price on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Bank of America boosted their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.21.

Affirm Stock Down 2.7 %

Shares of AFRM opened at $70.89 on Monday. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The company has a market cap of $22.26 billion, a PE ratio of -49.92 and a beta of 3.66. The business has a fifty day moving average of $56.26 and a 200 day moving average of $41.34. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) earnings per share. On average, sell-side analysts expect that Affirm will post -0.53 EPS for the current year.

Insider Activity at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Libor Michalek sold 2,847 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $70.00, for a total value of $199,290.00. Following the transaction, the president now owns 159,449 shares in the company, valued at approximately $11,161,430. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,298,351 shares of company stock worth $84,695,393 in the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Institutional investors have recently made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in Affirm in the third quarter valued at approximately $29,000. Ridgewood Investments LLC purchased a new stake in shares of Affirm during the second quarter worth $27,000. Advisors Asset Management Inc. grew its stake in shares of Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of Affirm by 200.5% during the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.