Barclays Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price target lifted by equities research analysts at Barclays from $64.00 to $75.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 13.17% from the stock’s previous close.

A number of other research firms have also commented on AFRM. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. Susquehanna lifted their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. The Goldman Sachs Group raised their target price on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.13.

Affirm Stock Down 4.4 %

AFRM opened at $66.27 on Monday. The stock’s 50 day moving average price is $47.39 and its 200 day moving average price is $37.01. 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 stock has a market cap of $20.81 billion, a P/E ratio of -46.67 and a beta of 3.47. Affirm has a 12 month low of $22.25 and a 12 month high of $70.20.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) earnings per share. As a group, research analysts predict that Affirm will post -0.53 earnings per share for the current year.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 868,253 shares of company stock worth $52,186,668. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

A number of institutional investors have recently bought and sold shares of AFRM. KBC Group NV increased its stake in shares of Affirm by 3.6% during the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc increased its position in Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after buying an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Affirm by 82.4% during the second 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 in the last quarter. ORG Partners LLC lifted its position in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the last quarter. Finally, Myecfo LLC boosted its stake in shares of Affirm by 5.0% during the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after acquiring an additional 589 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.