Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Affirm (NASDAQ:AFRM) had its target price hoisted by Wells Fargo & Company from $52.00 to $55.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Barclays boosted their price objective on shares of Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.03.

Affirm Price Performance

AFRM stock opened at $57.59 on Friday. Affirm has a one year low of $21.88 and a one year high of $57.76. The company’s fifty day moving average price is $43.25 and its 200-day moving average price is $35.07. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. The company has a market capitalization of $17.92 billion, a PE ratio of -40.55 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last announced its quarterly 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. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.77%. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the previous year, the business posted ($0.57) earnings per share. On average, equities analysts anticipate that Affirm will post -0.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katherine Adkins sold 82,316 shares of the company’s 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 of the company’s stock, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,800 shares of company stock valued at $4,554,288. 13.05% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

Several hedge funds have recently modified their holdings of AFRM. KBC Group NV increased its holdings in Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc increased its holdings in Affirm by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after buying an additional 233 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the period. ORG Partners LLC increased its holdings in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the period. Finally, Myecfo LLC increased its holdings in Affirm by 5.0% in the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after buying an additional 589 shares during the period. 69.29% of the stock is 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.