Bank of America Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its target price boosted by Bank of America from $50.00 to $74.00 in a research note issued to investors on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research analysts also recently issued reports on AFRM. Barclays raised their price objective on shares of Affirm from $54.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group raised their price objective on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.44.

Affirm Trading Up 1.2 %

NASDAQ AFRM opened at $66.55 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The firm’s fifty day moving average price is $46.89 and its 200 day moving average price is $36.72. The company has a market capitalization of $20.90 billion, a price-to-earnings ratio of -46.87 and a beta of 3.47. Affirm has a 12 month low of $22.25 and a 12 month high of $70.03.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for 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 period last year, the firm posted ($0.57) EPS. On average, sell-side analysts expect that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, 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 at this link. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The stock was 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 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 580,843 shares of company stock worth $32,256,766 over the last 90 days. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Ridgewood Investments LLC acquired a new position in Affirm during the second quarter worth about $27,000. ORG Wealth Partners LLC acquired a new position in Affirm during the third quarter worth about $29,000. Allspring Global Investments Holdings LLC raised its position in 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 acquiring an additional 540 shares during the last quarter. ORG Partners LLC raised its position in 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 acquiring an additional 551 shares during 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. Institutional investors and hedge funds 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.