Affirm (NASDAQ:AFRM) Given New $70.00 Price Target at Wells Fargo & Company

Affirm (NASDAQ:AFRM) had its price objective upped by Wells Fargo & Company from $55.00 to $70.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on AFRM. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Bank of America boosted their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Affirm Trading Down 0.0 %

NASDAQ:AFRM opened at $57.99 on Thursday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm has a 1 year low of $22.25 and a 1 year high of $73.34. The stock has a market cap of $18.21 billion, a P/E ratio of -40.84 and a beta of 3.67. The stock has a 50-day simple moving average of $64.00 and a 200-day simple moving average of $46.17.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period last year, the firm posted ($0.57) earnings per share. As a group, analysts anticipate that Affirm will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the transaction, the director now directly owns 93,694 shares of the company’s stock, valued at $5,839,010.08. The trade was a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,323,478 shares of company stock valued at $86,285,371 over the last ninety days. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Affirm during the third quarter worth approximately $29,000. Advisors Asset Management Inc. raised its position in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after buying an additional 732 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in shares of Affirm in the 3rd quarter valued at $65,000. Finally, Brooklyn Investment Group acquired a new position in shares of Affirm during the third quarter valued at $78,000. 69.29% of the stock is currently 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.