Affirm (NASDAQ:AFRM) Price Target Raised to $80.00

Affirm (NASDAQ:AFRM) had its price objective boosted by Barclays from $67.00 to $80.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $70.00 price target on shares of Affirm in a research note on Thursday, June 5th. JMP Securities cut their price target on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Friday, May 9th. Morgan Stanley cut their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen lowered shares of Affirm from a “buy” rating to a “hold” rating in a research note on Friday, June 6th. Finally, TD Cowen initiated coverage on shares of Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $65.67.

Affirm Price Performance

Affirm stock opened at $68.37 on Monday. The stock has a market cap of $22.06 billion, a P/E ratio of -325.57, a price-to-earnings-growth ratio of 2.44 and a beta of 3.63. The company has a fifty day simple moving average of $55.95 and a 200-day simple moving average of $56.45. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The firm had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same period last year, the business earned ($0.43) EPS. Affirm’s revenue for the quarter was up 35.9% compared to the same quarter last year. Equities analysts expect that Affirm will post -0.18 EPS for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 16,089 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director owned 29,343 shares of the company’s stock, valued at approximately $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares in the company, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. The disclosure for this sale can be found here. 11.82% of the stock is currently owned by insiders.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently modified their holdings of AFRM. Durable Capital Partners LP lifted its holdings in shares of Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after purchasing an additional 2,888,827 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Affirm by 140.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock valued at $205,350,000 after purchasing an additional 2,657,074 shares in the last quarter. Norges Bank purchased a new stake in shares of Affirm in the fourth quarter valued at about $139,949,000. Capital International Investors purchased a new stake in shares of Affirm in the fourth quarter valued at about $100,030,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Affirm by 6.7% in the first quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after purchasing an additional 1,457,434 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.