Affirm (NASDAQ:AFRM) Price Target Raised to $75.00 at Barclays

Affirm (NASDAQ:AFRM) had its price target boosted by Barclays from $64.00 to $75.00 in a report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

AFRM has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. 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 note on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Mizuho boosted their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of “Hold” and an average price target of $51.13.

Affirm Stock Performance

NASDAQ AFRM opened at $68.37 on Monday. The company’s 50 day moving average is $47.84 and its 200-day moving average is $37.25. Affirm has a 12-month low of $22.25 and a 12-month high of $70.20. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market cap of $21.47 billion, a P/E ratio of -48.50 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating 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 12.57%. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. Sell-side analysts predict that Affirm will post -0.53 earnings per share for the current year.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 200,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This represents a 68.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Libor Michalek sold 100,821 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the sale, the president now directly owns 159,449 shares in the company, valued at $10,860,071.39. This trade represents a 38.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock valued at $52,186,668 in the last three months. 12.41% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Affirm in the 3rd quarter worth approximately $1,419,000. International Assets Investment Management LLC bought a new position in shares of Affirm in the 3rd quarter worth approximately $731,000. Entropy Technologies LP bought a new position in shares of Affirm in the 3rd quarter worth approximately $464,000. Finally, Quest Partners LLC bought a new position in shares of Affirm in the 3rd quarter worth approximately $391,000. 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.