Affirm (NASDAQ:AFRM) Price Target Raised to $85.00

Affirm (NASDAQ:AFRM) had its price objective lifted by JMP Securities from $78.00 to $85.00 in a report released on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

AFRM has been the subject of several other reports. William Blair assumed coverage on shares of Affirm in a report on Wednesday, January 15th. They issued an “outperform” rating for the company. Morgan Stanley raised their target price on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Barclays upped their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price objective on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Bank of America increased their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $66.00.

Affirm Price Performance

AFRM stock opened at $75.22 on Friday. Affirm has a 12 month low of $22.25 and a 12 month high of $76.88. The firm has a 50 day moving average of $63.09 and a 200-day moving average of $49.18. 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 firm has a market capitalization of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. As a group, sell-side analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. This trade represents a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,339,564 shares of company stock valued at $87,252,461 in the last ninety days. Insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Hanseatic Management Services Inc. grew its position in Affirm by 12.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock valued at $109,000 after acquiring an additional 194 shares in the last quarter. KBC Group NV lifted its position in shares of Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after buying an additional 222 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after acquiring an additional 233 shares during the period. Venturi Wealth Management LLC grew its stake in Affirm by 29.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock worth $87,000 after buying an additional 325 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its holdings in shares of Affirm by 7.0% in the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock worth $334,000 after acquiring an additional 357 shares during the period. 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.