Wells Fargo & Company Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price target boosted by stock analysts at Wells Fargo & Company from $52.00 to $55.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 18.33% from the company’s previous close.

AFRM has been the topic of a number of other research reports. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $25.00 to $45.00 in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price target on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday. Barclays lifted their target price on shares of Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $46.00 price target on shares of Affirm in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.14.

Affirm Trading Down 4.7 %

NASDAQ AFRM traded down $2.31 on Friday, hitting $46.48. 26,521,372 shares of the company were exchanged, compared to its average volume of 8,839,862. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. Affirm has a twelve month low of $21.87 and a twelve month high of $52.48. The firm has a market capitalization of $14.46 billion, a P/E ratio of -27.67 and a beta of 3.47. The company’s 50 day moving average price is $42.93 and its 200-day moving average price is $34.75.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. Analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Affirm news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,800 shares of company stock valued at $4,554,288. 12.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after acquiring an additional 1,316,901 shares during the last quarter. Capital World Investors increased its position in Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after purchasing an additional 77,050 shares during the period. Dragoneer Investment Group LLC bought a new stake in Affirm during the 2nd quarter worth about $45,219,000. Bank of New York Mellon Corp lifted its position in Affirm by 25.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares during the period. Finally, Artemis Investment Management LLP bought a new position in shares of Affirm in the 3rd quarter valued at about $30,808,000. 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.