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

Affirm (NASDAQ:AFRM) had its price target dropped by research analysts at Barclays from $50.00 to $41.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 32.82% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Stephens raised their price target on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. BMO Capital Markets raised their price target on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Affirm from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley lowered shares of Affirm from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $15.00 to $20.00 in a research note on Monday, December 18th. Finally, Wedbush restated an “underperform” rating and set a $20.00 price target on shares of Affirm in a research note on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.86.

Affirm Trading Down 0.2 %

NASDAQ:AFRM opened at $30.87 on Tuesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The firm has a market cap of $9.47 billion, a price-to-earnings ratio of -12.40 and a beta of 3.57. Affirm has a 52 week low of $8.80 and a 52 week high of $52.48. The firm has a 50-day moving average price of $36.73 and a two-hundred day moving average price of $34.45.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, beating 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 net margin of 39.19% and a negative return on equity of 25.10%. On average, equities analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the transaction, 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 can be accessed through the SEC website. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AFRM. Voloridge Investment Management LLC bought a new position in Affirm in the 4th quarter valued at $147,583,000. Norges Bank bought a new stake in shares of Affirm during the 4th quarter worth $20,544,000. Vanguard Group Inc. lifted its holdings in shares of 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 lifted its holdings in shares of 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. Finally, BlackRock Inc. lifted its holdings in shares of 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. 69.29% of the stock is owned by institutional investors.

About Affirm

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.