Mizuho Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective boosted by Mizuho from $65.00 to $69.00 in a report published on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

AFRM has been the topic of a number of other research reports. Bank of America upped their price target on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Susquehanna increased their target price on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.44.

Affirm Stock Performance

AFRM opened at $66.55 on Tuesday. Affirm has a 1-year low of $22.25 and a 1-year high of $70.03. The company has a 50 day simple moving average of $46.89 and a two-hundred day simple moving average of $36.72. 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 firm has a market cap of $20.90 billion, a P/E ratio of -46.87 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to the consensus estimate 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 firm earned ($0.57) earnings per share. Equities analysts forecast that Affirm will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares in the company, valued at $5,493,105. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 580,843 shares of company stock worth $32,256,766 in the last three months. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors have recently modified their holdings of AFRM. US Bancorp DE boosted its holdings in shares of Affirm by 5.6% in the 1st quarter. US Bancorp DE now owns 17,166 shares of the company’s stock valued at $640,000 after buying an additional 914 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Affirm in the 1st quarter valued at approximately $258,000. Vanguard Group Inc. raised its position in shares of Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Affirm in the 1st quarter valued at approximately $535,000. Finally, Freestone Capital Holdings LLC purchased a new position in shares of Affirm in the 1st quarter valued at approximately $730,000. 69.29% of the stock is currently owned by institutional investors.

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.