Affirm (NASDAQ:AFRM) Price Target Raised to $70.00

Affirm (NASDAQ:AFRM) had its price target hoisted by Wells Fargo & Company from $55.00 to $70.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on the company. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Mizuho lifted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Susquehanna upped their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, William Blair initiated coverage on shares of Affirm in a report on Wednesday. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Affirm Stock Performance

NASDAQ:AFRM opened at $58.00 on Thursday. Affirm has a twelve month low of $22.25 and a twelve month high of $73.34. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock’s 50-day simple moving average is $63.58 and its 200 day simple moving average is $45.77. The firm has a market capitalization of $18.22 billion, a PE ratio of -40.84 and a beta of 3.67.

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, beating the consensus estimate of ($0.36) by $0.05. The company 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 period in the previous year, the firm posted ($0.57) EPS. On average, analysts anticipate that Affirm will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total transaction of $180,125.00. Following the transaction, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. This represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert O’hare sold 6,541 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at $184,535.64. This trade represents a 68.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,323,478 shares of company stock worth $86,285,371. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new stake in shares of Affirm during the second quarter valued at approximately $45,219,000. Artemis Investment Management LLP bought a new stake in Affirm during the 3rd quarter valued at $30,808,000. Holocene Advisors LP acquired a new position in Affirm during the third quarter worth $27,872,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Affirm by 269.7% during the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.