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

Affirm (NASDAQ:AFRM) had its price target increased by Barclays from $64.00 to $75.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Mizuho lifted their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, Susquehanna upped their target price on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus target price of $52.53.

Affirm Trading Up 3.2 %

Shares of Affirm stock opened at $68.37 on Monday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a fifty day simple moving average of $48.32 and a 200-day simple moving average of $37.47. The stock has a market cap of $21.47 billion, a price-to-earnings ratio of -48.15 and a beta of 3.47. Affirm has a 12-month low of $22.25 and a 12-month high of $70.20.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data 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 during 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 prior year, the firm posted ($0.57) earnings per share. On average, equities analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Activity at Affirm

In other news, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the sale, the insider now directly owns 93,545 shares in the company, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 868,253 shares of company stock worth $52,186,668 over the last three months. 12.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

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