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

Affirm (NASDAQ:AFRM) had its target price lifted by Barclays from $64.00 to $75.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on AFRM. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Bank of America upped their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Mizuho lifted their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Affirm currently has an average rating of “Hold” and an average target price of $51.13.

Affirm Stock Performance

NASDAQ:AFRM opened at $69.35 on Monday. The company’s 50-day moving average is $47.39 and its two-hundred day moving average is $37.01. Affirm has a 1-year low of $22.25 and a 1-year high of $70.20. 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 capitalization of $21.78 billion, a price-to-earnings ratio of -48.84 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the firm posted ($0.57) earnings per share. Analysts forecast that Affirm will post -0.53 EPS for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, President Libor Michalek sold 100,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now directly owns 159,449 shares in the company, valued at $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 671,100 shares of company stock worth $38,575,547 over the last ninety days. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AFRM. Ridgewood Investments LLC acquired a new position in Affirm in the second quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm in the 3rd quarter valued at about $29,000. Allspring Global Investments Holdings LLC grew its stake in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. ORG Partners LLC increased its position in Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares during the last quarter. 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.