Affirm (NASDAQ:AFRM) Price Target Raised to $54.00 at Barclays

Affirm (NASDAQ:AFRM) had its price target increased by Barclays from $50.00 to $54.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. BTIG Research assumed coverage on shares of Affirm in a research note on Friday, June 7th. They issued a neutral rating for the company. JMP Securities assumed coverage on Affirm in a research note on Friday, June 28th. They set a market perform rating for the company. Mizuho reaffirmed an outperform rating and issued a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. Royal Bank of Canada increased their price target on Affirm from $43.00 to $46.00 and gave the stock a sector perform rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group restated a buy rating and issued a $42.00 price objective on shares of Affirm in a report on Monday, June 24th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $35.53.

Affirm Price Performance

AFRM stock opened at $43.24 on Monday. Affirm has a 1 year low of $15.97 and a 1 year high of $52.48. The firm has a market capitalization of $13.45 billion, a PE ratio of -19.39 and a beta of 3.51. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The business has a 50 day simple moving average of $33.71 and a 200-day simple moving average of $32.86.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The business had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Equities research analysts anticipate that Affirm will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares in the company, valued at approximately $5,493,105. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,351 shares of company stock worth $5,081,045. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new position in shares of Affirm in the fourth quarter valued at approximately $33,000. Ridgewood Investments LLC bought a new position in Affirm during the 2nd quarter worth approximately $27,000. Global Wealth Strategies & Associates boosted its holdings in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.