Wells Fargo & Company Boosts Affirm (NASDAQ:AFRM) Price Target to $85.00

Affirm (NASDAQ:AFRM) had its price target raised by investment analysts at Wells Fargo & Company from $70.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 14.37% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Mizuho upped their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group raised their price target on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday, December 2nd. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating for the company. Finally, Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and a consensus target price of $63.76.

Affirm Stock Performance

Shares of AFRM opened at $74.32 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 stock has a market capitalization of $23.34 billion, a P/E ratio of -52.34 and a beta of 3.66. Affirm has a 12-month low of $22.25 and a 12-month high of $73.34. The firm’s 50 day moving average is $62.98 and its 200-day moving average is $48.86.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. Equities research analysts anticipate that Affirm will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now owns 93,545 shares in the company, valued at approximately $5,149,652.25. The trade was a 68.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,339,564 shares of company stock valued at $87,252,461. Corporate insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFRM. ORG Wealth Partners LLC acquired a new position in shares of Affirm in the third quarter valued at about $29,000. Geneos Wealth Management Inc. boosted its holdings in Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares during the period. R Squared Ltd acquired a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 671 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

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.