Barclays Raises Affirm (NASDAQ:AFRM) Price Target to $64.00

Affirm (NASDAQ:AFRM) had its price target upped by Barclays from $54.00 to $64.00 in a research report report published on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research firms have also issued reports on AFRM. Wells Fargo & Company lifted their target price on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Mizuho reissued an “outperform” rating and issued a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 8th. Finally, Bank of America lifted their target price on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. 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 stock. According to data from MarketBeat.com, Affirm has an average rating of “Hold” and an average target price of $46.85.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $65.74 on Monday. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $66.61. The firm’s 50-day simple moving average is $46.44 and its 200 day simple moving average is $36.50. 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 stock has a market cap of $20.65 billion, a P/E ratio of -46.30 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the previous year, the business earned ($0.57) earnings per share. Equities analysts expect that Affirm will post -0.53 EPS for the current year.

Insider Buying and Selling

In other news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 503,738 shares of company stock valued at $27,315,878. Insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Dragoneer Investment Group LLC acquired a new position in Affirm during the 2nd quarter worth approximately $45,219,000. Vanguard Group Inc. increased its holdings in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Artemis Investment Management LLP bought a new position in shares of Affirm in the third quarter valued at approximately $30,808,000. Holocene Advisors LP bought a new position in shares of Affirm in the third quarter valued at approximately $27,872,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after acquiring an additional 672,883 shares in 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.