Truist Financial Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price target raised by Truist Financial from $75.00 to $80.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 10.34% from the company’s current price.

AFRM has been the subject of several other research reports. Stephens boosted their price objective on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Zacks Research cut Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $87.00 price target on shares of Affirm in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Affirm in a report on Friday, March 27th. Finally, BMO Capital Markets began coverage on Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $86.20.

Affirm Price Performance

NASDAQ:AFRM traded up $2.07 during mid-day trading on Thursday, reaching $72.51. The stock had a trading volume of 1,868,354 shares, compared to its average volume of 5,986,547. The firm has a 50 day moving average price of $57.46 and a two-hundred day moving average price of $62.53. The stock has a market capitalization of $24.28 billion, a P/E ratio of 66.15, a P/E/G ratio of 4.05 and a beta of 3.72. Affirm has a one year low of $42.10 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.Affirm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS. As a group, analysts expect that Affirm will post 1.23 earnings per share for the current year.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in shares of Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Greenline Wealth Management LLC purchased a new position in shares of Affirm in the 4th quarter valued at $26,000. Syntegra Private Wealth Group LLC purchased a new position in shares of Affirm in the 1st quarter valued at $28,000. Triumph Capital Management purchased a new position in Affirm during the 3rd quarter worth $31,000. Finally, CoreCap Advisors LLC grew its stake in Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after buying an additional 358 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.