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

Affirm (NASDAQ:AFRM) had its price objective upped by Barclays from $54.00 to $64.00 in a research report report published on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also commented on AFRM. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Susquehanna lifted their target price on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Finally, Mizuho reiterated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of “Hold” and an average price target of $46.85.

Affirm Trading Down 1.2 %

AFRM opened at $63.19 on Monday. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of -44.50 and a beta of 3.47. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The company’s 50 day simple moving average is $45.96 and its two-hundred day simple moving average is $36.30. Affirm has a 1-year low of $22.25 and a 1-year high of $64.56.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The firm 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 quarter in the previous year, the company earned ($0.57) EPS. Analysts expect that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the completion of the transaction, the president now owns 159,449 shares in the company, valued at approximately $9,885,838. The trade was a 38.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 503,738 shares of company stock worth $27,315,878. Corporate insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can lifted its position in Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Affirm in the third quarter valued at $731,000. Entropy Technologies LP purchased a new stake in Affirm in the third quarter valued at $464,000. Oppenheimer & Co. Inc. purchased a new stake in Affirm in the third quarter valued at $1,419,000. Finally, Avantax Advisory Services Inc. purchased a new stake in Affirm in the first quarter valued at $258,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.