Barclays Raises Affirm (NASDAQ:AFRM) Price Target to $54.00

Affirm (NASDAQ:AFRM) had its target price raised by Barclays from $50.00 to $54.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on the company. Wedbush boosted their price objective on Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a research note on Thursday, August 29th. The Goldman Sachs Group restated a buy rating and set a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Royal Bank of Canada boosted their price objective on Affirm from $43.00 to $46.00 and gave the stock a sector perform rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on Affirm from $43.00 to $45.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Finally, Mizuho reiterated an outperform rating and issued a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Affirm has a consensus rating of Hold and an average price target of $35.53.

Affirm Price Performance

Shares of Affirm stock opened at $41.64 on Monday. Affirm has a twelve month low of $15.97 and a twelve month high of $52.48. The stock has a market capitalization of $12.96 billion, a P/E ratio of -18.67 and a beta of 3.51. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The business’s fifty day moving average price is $33.92 and its 200 day moving average price is $32.92.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to analysts’ expectations of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. As a group, research analysts anticipate that Affirm will post -0.82 earnings per share for the current year.

Insider Activity at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The disclosure for this sale can be found here. Insiders sold a total of 121,351 shares of company stock valued at $5,081,045 over the last three months. 13.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Institutional investors have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new position in shares of Affirm during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the fourth quarter valued at approximately $33,000. Global Wealth Strategies & Associates grew its holdings in shares of Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Affirm by 82.4% during the second 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 period. Finally, ORG Partners LLC boosted its position in shares of 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. 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.