Barclays Trims Affirm (NASDAQ:AFRM) Target Price to $41.00

Affirm (NASDAQ:AFRM) had its target price reduced by Barclays from $50.00 to $41.00 in a research note released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently issued reports on AFRM. Royal Bank of Canada boosted their price target on Affirm from $26.00 to $50.00 and gave the company a sector perform rating in a report on Friday, February 9th. BMO Capital Markets boosted their price target on Affirm from $44.00 to $47.00 and gave the company a market perform rating in a report on Monday, February 12th. Morgan Stanley downgraded Affirm from an equal weight rating to an underweight rating and boosted their price target for the company from $15.00 to $20.00 in a report on Monday, December 18th. Needham & Company LLC started coverage on Affirm in a research report on Wednesday, April 3rd. They set a hold rating on the stock. Finally, The Goldman Sachs Group lifted their price objective on Affirm from $18.00 to $20.00 and gave the company a neutral rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $27.86.

Affirm Trading Up 0.9 %

Shares of AFRM stock opened at $31.15 on Tuesday. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. The business has a 50-day moving average price of $36.37 and a two-hundred day moving average price of $34.43. Affirm has a 12-month low of $8.80 and a 12-month high of $52.48. The firm has a market cap of $9.56 billion, a P/E ratio of -12.51 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. The firm had revenue of $591.11 million during the quarter, compared to analyst estimates of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Equities analysts anticipate that Affirm will post -2.45 EPS for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the sale, the director now directly owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Affirm by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock valued at $958,569,000 after acquiring an additional 769,843 shares in the last quarter. Capital World Investors lifted its position in Affirm by 1.2% in the 4th quarter. Capital World Investors now owns 19,002,021 shares of the company’s stock valued at $933,759,000 after acquiring an additional 218,720 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Affirm by 14.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,350,295 shares of the company’s stock valued at $204,987,000 after acquiring an additional 1,404,278 shares in the last quarter. BlackRock Inc. lifted its position in Affirm by 4.9% in the 3rd quarter. BlackRock Inc. now owns 8,877,070 shares of the company’s stock valued at $166,533,000 after acquiring an additional 415,059 shares in the last quarter. Finally, State Street Corp lifted its position in Affirm by 9.8% in the 3rd quarter. State Street Corp now owns 3,920,885 shares of the company’s stock valued at $73,556,000 after acquiring an additional 349,071 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.