Affirm (NASDAQ:AFRM) Price Target Raised to $85.00

Affirm (NASDAQ:AFRM) had its price target raised by Barclays from $75.00 to $85.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the company. Bank of America boosted their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Compass Point raised Affirm from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $20.00 to $61.00 in a research report on Tuesday, January 28th. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Morgan Stanley boosted their price target on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.24.

Affirm Price Performance

NASDAQ:AFRM opened at $75.66 on Monday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock’s 50-day simple moving average is $63.49 and its 200 day simple moving average is $50.37. The company has a market cap of $23.76 billion, a P/E ratio of -116.40 and a beta of 3.66. Affirm has a 52-week low of $22.25 and a 52-week high of $79.67.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.29% and a negative net margin of 7.10%. As a group, sell-side analysts forecast that Affirm will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the transaction, the director now directly owns 77,608 shares in the company, valued at approximately $4,665,792.96. This represents a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 11,218 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $70.00, for a total transaction of $785,260.00. The disclosure for this sale can be found here. Insiders sold 1,038,626 shares of company stock worth $70,690,871 over the last three months. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ExodusPoint Capital Management LP acquired a new stake in Affirm in the fourth quarter valued at $14,433,000. Arete Wealth Advisors LLC increased its holdings in Affirm by 42.0% in the fourth quarter. Arete Wealth Advisors LLC now owns 8,482 shares of the company’s stock valued at $517,000 after purchasing an additional 2,510 shares during the period. Ardmore Road Asset Management LP grew its holdings in Affirm by 50.5% during the 4th quarter. Ardmore Road Asset Management LP now owns 301,000 shares of the company’s stock worth $18,331,000 after acquiring an additional 101,000 shares during the period. Groupama Asset Managment acquired a new stake in Affirm during the 4th quarter worth about $30,450,000. Finally, Headlands Technologies LLC acquired a new stake in Affirm during the 4th quarter worth about $1,938,000. 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.