Piper Sandler Trims Affirm (NASDAQ:AFRM) Target Price to $11.00

Affirm (NASDAQ:AFRM – Get Rating) had its price objective reduced by Piper Sandler from $13.00 to $11.00 in a research note issued to investors on Wednesday, The Fly reports. Piper Sandler’s target price points to a potential downside of 11.79% from the stock’s previous close.

AFRM has been the topic of several other research reports. DA Davidson decreased their target price on Affirm from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. Royal Bank of Canada lowered Affirm from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $23.00 to $17.00 in a research note on Thursday, February 9th. JPMorgan Chase & Co. cut their target price on Affirm from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, February 9th. Morgan Stanley lowered Affirm from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $46.00 to $15.00 in a research report on Friday, February 10th. Finally, Mizuho decreased their price objective on Affirm from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.26.

Affirm Trading Up 1.8 %

Shares of NASDAQ AFRM opened at $12.47 on Wednesday. The business has a 50 day simple moving average of $10.76 and a 200 day simple moving average of $12.60. Affirm has a 52 week low of $8.62 and a 52 week high of $40.97. The company has a debt-to-equity ratio of 2.01, a quick ratio of 11.40 and a current ratio of 11.40. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -3.78 and a beta of 3.17.

Affirm (NASDAQ:AFRM – Get Rating) last announced its quarterly earnings results on Tuesday, May 9th. The company reported ($0.69) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.22. Affirm had a negative return on equity of 31.74% and a negative net margin of 55.05%. The firm had revenue of $380.98 million for the quarter, compared to analysts’ expectations of $371.96 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year. On average, research analysts predict that Affirm will post -3.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 17,286 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $11.15, for a total value of $192,738.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.11% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AFRM. Raymond James & Associates increased its position in Affirm by 8.8% in the first quarter. Raymond James & Associates now owns 49,667 shares of the company’s stock worth $2,299,000 after buying an additional 4,005 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Affirm by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 633,650 shares of the company’s stock valued at $29,324,000 after purchasing an additional 14,841 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Affirm by 21.5% in the first quarter. HighTower Advisors LLC now owns 35,644 shares of the company’s stock valued at $1,650,000 after purchasing an additional 6,304 shares in the last quarter. Cetera Advisor Networks LLC grew its position in shares of Affirm by 159.6% in the first quarter. Cetera Advisor Networks LLC now owns 9,354 shares of the company’s stock valued at $433,000 after purchasing an additional 5,751 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Affirm by 48.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,533 shares of the company’s stock valued at $441,000 after buying an additional 3,103 shares during the period. Institutional investors own 67.49% of the company’s stock.

About Affirm

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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 from one to sixty months.