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

Affirm (NASDAQ:AFRM) had its price objective boosted by Barclays from $64.00 to $75.00 in a research note released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Susquehanna increased their price objective on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Wells Fargo & Company raised their price target 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. Finally, Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and raised their price target for the company from $25.00 to $45.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $51.13.

Affirm Stock Performance

NASDAQ AFRM opened at $68.37 on Monday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of -48.50 and a beta of 3.47. The firm’s 50 day simple moving average is $47.84 and its 200 day simple moving average is $37.25. Affirm has a 1 year low of $22.25 and a 1 year high of $70.20.

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, topping the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter last year, the business posted ($0.57) EPS. As a group, research analysts expect that Affirm will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Libor Michalek sold 96,332 shares of Affirm stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $70.01, for a total transaction of $6,744,203.32. Following the completion of the transaction, the president now directly owns 159,449 shares in the company, valued at $11,163,024.49. This trade represents a 37.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 868,253 shares of company stock worth $52,186,668. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Tidal Investments LLC raised its position in Affirm by 208.6% in the third quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock worth $889,000 after acquiring an additional 14,720 shares during the period. Arete Wealth Advisors LLC bought a new stake in Affirm in the third quarter worth about $244,000. Y Intercept Hong Kong Ltd bought a new stake in Affirm in the third quarter worth about $1,618,000. Main Management ETF Advisors LLC bought a new stake in Affirm in the third quarter worth about $2,629,000. Finally, XTX Topco Ltd raised its position in Affirm by 25.5% in the third quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock worth $2,206,000 after acquiring an additional 10,970 shares during the period. 69.29% of the stock is currently 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.