Mizuho Raises Affirm (NASDAQ:AFRM) Price Target to $69.00

Affirm (NASDAQ:AFRM) had its target price hoisted by investment analysts at Mizuho from $65.00 to $69.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 9.19% from the company’s previous close.

AFRM has been the subject of several other reports. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Wells Fargo & Company increased their price target on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group increased their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Barclays increased their price objective on Affirm from $54.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.85.

Affirm Trading Down 1.2 %

Shares of Affirm stock opened at $63.19 on Tuesday. The company’s fifty day simple moving average is $45.96 and its 200-day simple moving average is $36.30. The company has a market cap of $19.85 billion, a price-to-earnings ratio of -44.50 and a beta of 3.47. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 1 year low of $22.25 and a 1 year high of $64.56.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share 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 firm had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the previous year, the company earned ($0.57) earnings per share. As a group, sell-side analysts expect that Affirm will post -0.53 EPS for the current year.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the transaction, the president now directly owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 503,738 shares of company stock valued at $27,315,878. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of Affirm in the second quarter valued at $27,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm during the 3rd quarter valued at $29,000. Allspring Global Investments Holdings LLC raised its stake 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 purchasing an additional 540 shares during the period. ORG Partners LLC raised its stake in shares of Affirm by 80.0% during the 2nd 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 period. Finally, Advisors Asset Management Inc. raised its stake in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the period. 69.29% of the stock is currently 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.