Affirm (NASDAQ:AFRM) Price Target Raised to $55.00

Affirm (NASDAQ:AFRM) had its target price boosted by investment analysts at Morgan Stanley from $39.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 3.25% from the company’s previous close.

AFRM has been the topic of a number of other reports. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research note on Tuesday, January 21st. Mizuho raised their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company raised their price objective on Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. William Blair assumed coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.88.

Affirm Stock Up 3.0 %

NASDAQ AFRM traded up $1.68 during trading on Tuesday, reaching $56.85. 1,504,424 shares of the company’s stock were exchanged, compared to its average volume of 5,126,702. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The firm has a market capitalization of $17.85 billion, a PE ratio of -40.09 and a beta of 3.67. 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’s fifty day simple moving average is $63.95 and its 200-day simple moving average is $47.47.

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 business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the previous year, the company earned ($0.57) EPS. Sell-side analysts predict that Affirm will post -0.62 EPS for the current year.

Insiders Place Their Bets

In related news, President Libor Michalek sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now owns 159,449 shares in the company, valued at $9,885,838. This trade represents a 38.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,323,478 shares of company stock valued at $86,285,371. 12.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds have recently added to or reduced their stakes in AFRM. Artemis Investment Management LLP acquired a new stake in shares of Affirm during the third quarter worth about $30,808,000. Holocene Advisors LP acquired a new stake in shares of Affirm during the third quarter worth about $27,872,000. Charles Schwab Investment Management Inc. raised its position in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares during the period. Bank of Montreal Can raised its position 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 worth $29,814,000 after purchasing an additional 528,400 shares during the period. Finally, Atreides Management LP acquired a new stake in shares of Affirm during the third quarter worth about $20,404,000. 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.