Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Bank of America Analyst Says

Affirm (NASDAQ:AFRM) had its price objective raised by Bank of America from $50.00 to $74.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

AFRM has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their target price on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their target price on shares of Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Barclays boosted their target price on shares of Affirm from $54.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.44.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $66.55 on Friday. The company has a market cap of $20.90 billion, a PE ratio of -46.87 and a beta of 3.47. Affirm has a 12 month low of $22.25 and a 12 month high of $70.03. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The company has a 50-day simple moving average of $46.89 and a 200-day simple moving average of $36.72.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the firm posted ($0.57) earnings per share. On average, equities analysts anticipate that Affirm will post -0.53 earnings per share for the current year.

Insider Transactions at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Libor Michalek sold 77,105 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $64.08, for a total transaction of $4,940,888.40. Following the completion of the sale, the president now directly owns 159,449 shares in the company, valued at $10,217,491.92. This represents a 32.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 580,843 shares of company stock valued at $32,256,766. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its stake in Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in Affirm during the 3rd quarter valued at $1,419,000. International Assets Investment Management LLC bought a new position in Affirm during the 3rd quarter valued at $731,000. Entropy Technologies LP bought a new position in Affirm during the 3rd quarter valued at $464,000. Finally, Versor Investments LP bought a new position in Affirm during the 3rd quarter valued at $755,000. 69.29% of the stock is currently owned by institutional investors.

Affirm Company Profile

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.