Affirm (NASDAQ:AFRM) Price Target Raised to $74.00

Affirm (NASDAQ:AFRM) had its target price hoisted by Bank of America from $50.00 to $74.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the company. The Goldman Sachs Group increased their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. JPMorgan Chase & Co. increased their price target on Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.44.

Affirm Trading Up 1.2 %

NASDAQ:AFRM opened at $66.55 on Friday. The stock’s 50 day moving average price is $46.89 and its 200 day moving average price is $36.76. Affirm has a 52 week low of $22.25 and a 52 week high of $70.03. The company has a market capitalization of $20.90 billion, a P/E ratio of -46.87 and a beta of 3.47. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $698.48 million for 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. On average, research analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This trade represents a 47.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 580,843 shares of company stock valued at $32,256,766 over the last ninety days. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. CreativeOne Wealth LLC bought a new position in shares of Affirm during the first quarter valued at $535,000. Bayesian Capital Management LP bought a new position in shares of Affirm during the first quarter valued at $2,079,000. Interval Partners LP bought a new position in shares of Affirm during the first quarter valued at $745,000. Comerica Bank lifted its holdings in shares of Affirm by 16.2% during the first quarter. Comerica Bank now owns 6,109 shares of the company’s stock valued at $228,000 after acquiring an additional 850 shares during the period. Finally, Plato Investment Management Ltd lifted its holdings in shares of Affirm by 255.1% during the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock valued at $49,000 after acquiring an additional 954 shares during the period. 69.29% of the stock is 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.