Affirm (NASDAQ:AFRM) Price Target Raised to $62.00 at UBS Group

Affirm (NASDAQ:AFRM) had its price target lifted by UBS Group from $46.00 to $62.00 in a research note published on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Barclays boosted their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. William Blair initiated coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating on the stock. JMP Securities upgraded Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 target price on the stock in a research report on Friday, December 20th. Compass Point raised shares of Affirm from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $61.00 in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $82.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Affirm Stock Up 21.8 %

AFRM opened at $75.22 on Friday. The stock has a market cap of $23.62 billion, a PE ratio of -52.97 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 52 week low of $22.25 and a 52 week high of $76.88. The business’s fifty day simple moving average is $63.09 and its 200 day simple moving average is $49.18.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. As a group, research analysts expect that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $72.08, for a total transaction of $477,818.32. Following the sale, the president now owns 160,601 shares in the company, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the sale, the director now owns 77,608 shares in the company, valued at $4,665,792.96. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,339,564 shares of company stock worth $87,252,461 over the last three months. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC purchased a new position in Affirm during the third quarter valued at $29,000. Geneos Wealth Management Inc. boosted its stake in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd acquired a new position in Affirm in the 4th quarter valued at $33,000. Advisors Asset Management Inc. boosted its stake in Affirm by 168.2% during 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. Finally, Venturi Wealth Management LLC raised its position in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the last quarter. Institutional investors and hedge funds 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.