Affirm (NASDAQ:AFRM) PT Raised to $54.00 at Barclays

Affirm (NASDAQ:AFRM) had its target price increased by research analysts at Barclays from $50.00 to $54.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 21.02% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Mizuho restated an “outperform” rating and set a $65.00 price objective on shares of Affirm in a report on Tuesday, August 27th. JMP Securities assumed coverage on Affirm in a research note on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price target on shares of Affirm in a research note on Monday, June 24th. Finally, BTIG Research started coverage on shares of Affirm in a research note on Friday, June 7th. They set a “neutral” rating for the company. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Affirm has a consensus rating of “Hold” and an average target price of $35.53.

Affirm Stock Performance

NASDAQ:AFRM opened at $44.62 on Monday. Affirm has a twelve month low of $15.97 and a twelve month high of $52.48. The company has a market capitalization of $13.79 billion, a P/E ratio of -20.01 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 firm has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $32.79.

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

Insider Activity

In related news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 9,275 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 121,351 shares of company stock worth $5,081,045. 13.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC bought a new position in Affirm during the 2nd quarter worth $45,219,000. Norges Bank bought a new stake in Affirm in the 4th quarter valued at about $67,310,000. Vanguard Group Inc. raised its holdings in shares of Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after buying an additional 1,316,901 shares during the last quarter. Leo Wealth LLC acquired a new position in Affirm during the 4th quarter worth $57,647,000. Finally, Baillie Gifford & Co. lifted its holdings in Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after purchasing an additional 749,368 shares during the period. 69.29% of the stock is currently 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.