Affirm (NASDAQ:AFRM) Price Target Raised to $69.00

Affirm (NASDAQ:AFRM) had its price objective upped by Mizuho from $65.00 to $69.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

AFRM has been the topic of a number of other research reports. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $45.00 in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 8th. 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 report on Tuesday, October 8th. Susquehanna increased their price target on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Bank of America increased their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.85.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $65.74 on Tuesday. The company has a market cap of $20.65 billion, a price-to-earnings ratio of -46.30 and a beta of 3.47. The company has a 50-day moving average price of $46.44 and a 200-day moving average price of $36.50. 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 has a 12 month low of $22.25 and a 12 month high of $66.61.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) 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 firm had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the prior year, the firm posted ($0.57) earnings per share. As a group, equities analysts anticipate that Affirm will post -0.53 EPS for the current year.

Insider Activity

In other news, 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 value of $5,551,590.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 9.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 503,738 shares of company stock worth $27,315,878. 12.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several large investors have recently bought and sold shares of the stock. Arete Wealth Advisors LLC purchased a new stake in Affirm during the 3rd quarter worth approximately $244,000. Y Intercept Hong Kong Ltd purchased a new stake in Affirm during the 3rd quarter worth approximately $1,618,000. Main Management ETF Advisors LLC purchased a new stake in Affirm during the 3rd quarter worth approximately $2,629,000. XTX Topco Ltd grew its position in Affirm by 25.5% during the 3rd quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock worth $2,206,000 after purchasing an additional 10,970 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Affirm by 127.3% in the 3rd quarter. National Bank of Canada FI now owns 4,410 shares of the company’s stock valued at $180,000 after acquiring an additional 2,470 shares during 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.