Affirm (NASDAQ:AFRM) Price Target Raised to $55.00 at Wells Fargo & Company

Affirm (NASDAQ:AFRM) had its price target hoisted by Wells Fargo & Company from $52.00 to $55.00 in a research report report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Barclays upped their price objective on Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, September 6th. Susquehanna increased their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.14.

Affirm Stock Performance

AFRM stock traded down $2.31 during trading on Friday, reaching $46.48. 26,571,716 shares of the stock were exchanged, compared to its average volume of 8,839,862. Affirm has a twelve month low of $21.87 and a twelve month high of $52.48. The company has a market capitalization of $14.46 billion, a P/E ratio of -27.67 and a beta of 3.47. The stock has a 50 day simple moving average of $42.98 and a 200-day simple moving average of $34.85. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The company had revenue of $659.19 million during the quarter, compared to analysts’ expectations of $599.50 million. As a group, sell-side analysts anticipate that Affirm will post -0.62 earnings per share for the current year.

Insider Activity at Affirm

In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total value 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 approximately $5,493,105. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,800 shares of company stock valued at $4,554,288. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after buying an additional 187,790 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Affirm during the third quarter worth about $731,000. Avantax Advisory Services Inc. bought a new stake in Affirm in the first quarter valued at approximately $258,000. Dragoneer Investment Group LLC bought a new position in shares of Affirm during the 2nd quarter worth approximately $45,219,000. Finally, Diversify Advisory Services LLC raised its position in shares of Affirm by 17.5% during the third quarter. Diversify Advisory Services LLC now owns 107,379 shares of the company’s stock worth $4,724,000 after purchasing an additional 15,993 shares during the period. 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.