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

Affirm (NASDAQ:AFRM) had its price target raised by equities researchers at Barclays from $50.00 to $54.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 20.89% from the stock’s current price.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Wedbush boosted their target price on shares of Affirm from $20.00 to $25.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Finally, BTIG Research started coverage on shares of Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Affirm presently has an average rating of “Hold” and an average target price of $35.53.

Affirm Price Performance

Shares of AFRM stock traded down $0.26 during mid-day trading on Monday, hitting $44.67. 7,473,644 shares of the stock traded hands, compared to its average volume of 8,763,246. Affirm has a twelve month low of $15.97 and a twelve month high of $52.48. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of -20.03 and a beta of 3.51. The company’s 50-day simple moving average is $33.02 and its 200-day simple moving average is $32.69.

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 for the quarter, compared to analysts’ expectations of $599.50 million. As a group, equities research analysts expect that Affirm will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the sale, 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 SEC, which is available through this hyperlink. In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 9,275 shares of the 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 sale, the director now owns 64,348 shares in the company, valued at approximately $1,730,961.20. The disclosure for this sale can be found here. Insiders sold a total of 121,351 shares of company stock valued at $5,081,045 over the last ninety days. 13.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new position in shares of Affirm during the first quarter valued at $258,000. Principal Financial Group Inc. boosted its stake in shares of Affirm by 34.3% in the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock valued at $710,000 after purchasing an additional 4,868 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Affirm during the first quarter worth approximately $265,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Affirm by 19.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after buying an additional 30,500 shares during the last quarter. 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.