Affirm (NASDAQ:AFRM) PT Raised to $41.00

Affirm (NASDAQ:AFRMGet Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $35.00 to $41.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 6.52% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Truist Financial boosted their price objective on Affirm from $33.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, December 15th. Morgan Stanley cut Affirm from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $15.00 to $20.00 in a research report on Monday, December 18th. Mizuho boosted their price objective on Affirm from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. UBS Group boosted their price objective on Affirm from $19.50 to $21.50 and gave the stock a “neutral” rating in a research report on Wednesday, November 22nd. Finally, Stephens boosted their price objective on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.81.

View Our Latest Analysis on AFRM

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $43.86 on Friday. Affirm has a fifty-two week low of $8.80 and a fifty-two week high of $52.48. The business has a 50-day moving average of $43.69 and a two-hundred day moving average of $28.64. The stock has a market capitalization of $13.23 billion, a P/E ratio of -17.61 and a beta of 3.72. The company has a debt-to-equity ratio of 2.19, a current ratio of 13.25 and a quick ratio of 13.25.

Affirm (NASDAQ:AFRMGet Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.65). Affirm had a negative return on equity of 25.34% and a negative net margin of 39.19%. The company had revenue of $496.55 million during the quarter, compared to analyst estimates of $444.48 million. During the same period in the prior year, the firm earned ($0.86) EPS. Affirm’s quarterly revenue was up 37.3% on a year-over-year basis. On average, equities research analysts predict that Affirm will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Private Ltd Gic sold 2,906,591 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.02, for a total value of $116,321,771.82. Following the sale, the insider now directly owns 1,592,923 shares in the company, valued at approximately $63,748,778.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Private Ltd Gic sold 2,906,591 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $40.02, for a total value of $116,321,771.82. Following the sale, the insider now directly owns 1,592,923 shares in the company, valued at approximately $63,748,778.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Linford sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $52.00, for a total value of $3,380,000.00. Following the completion of the sale, the chief financial officer now owns 99,063 shares in the company, valued at $5,151,276. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,036,591 shares of company stock worth $122,951,772. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of large investors have recently bought and sold shares of AFRM. Norges Bank bought a new stake in Affirm during the 4th quarter worth approximately $20,544,000. Vanguard Group Inc. grew its position in Affirm by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock worth $763,545,000 after acquiring an additional 1,883,050 shares during the last quarter. State Street Corp grew its position in Affirm by 96.6% during the 2nd quarter. State Street Corp now owns 3,571,814 shares of the company’s stock worth $64,507,000 after acquiring an additional 1,755,252 shares during the last quarter. Capital World Investors grew its position in Affirm by 9.5% during the 2nd quarter. Capital World Investors now owns 16,783,050 shares of the company’s stock worth $257,284,000 after acquiring an additional 1,453,822 shares during the last quarter. Finally, BlackRock Inc. grew its position in Affirm by 38.2% during the 1st quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock worth $239,773,000 after acquiring an additional 1,432,202 shares during the last quarter. 59.69% of the stock is currently owned by institutional investors.

Affirm Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Affirm (NASDAQ:AFRM)

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