Affirm (NASDAQ:AFRM) Price Target Raised to $75.00

Affirm (NASDAQ:AFRM) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $45.00 to $75.00 in a research note published on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently issued reports on AFRM. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Bank of America upped their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Susquehanna boosted their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.21.

Affirm Trading Up 3.1 %

NASDAQ AFRM opened at $72.86 on Monday. The business has a 50 day moving average price of $55.66 and a 200-day moving average price of $41.05. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34. The company has a market cap of $22.88 billion, a price-to-earnings ratio of -51.31 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the prior year, the company posted ($0.57) earnings per share. As a group, equities analysts expect that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Michael Linford sold 400,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. This trade represents a 47.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,380,667 shares of company stock valued at $88,399,613 in the last 90 days. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors have recently added to or reduced their stakes in the stock. Spyglass Capital Management LLC lifted its holdings in Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in Affirm in the 2nd quarter worth about $45,219,000. Bank of New York Mellon Corp increased its stake in Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Affirm in the 3rd quarter worth about $30,808,000. 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.