Affirm (NASDAQ:AFRM) Price Target Raised to $75.00 at Deutsche Bank Aktiengesellschaft

Affirm (NASDAQ:AFRM) had its price target increased by Deutsche Bank Aktiengesellschaft from $45.00 to $75.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other brokerages also recently issued reports on AFRM. Barclays raised their price target on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Susquehanna raised their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 price target on shares of Affirm in a report on Friday, October 4th. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.21.

Affirm Price Performance

NASDAQ AFRM opened at $72.86 on Monday. The business has a 50 day simple moving average of $55.66 and a 200 day simple moving average of $41.05. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock has a market cap of $22.88 billion, a price-to-earnings ratio of -51.31 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last released 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 return on equity of 12.57% and a negative net margin of 17.67%. The firm had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the prior year, the firm posted ($0.57) EPS. Analysts anticipate that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the transaction, the insider now directly owns 93,545 shares of the company’s stock, valued at $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,380,667 shares of company stock valued at $88,399,613. 12.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Dragoneer Investment Group LLC bought a new stake in Affirm in the second quarter worth approximately $45,219,000. Artemis Investment Management LLP bought a new stake in Affirm in the third quarter worth approximately $30,808,000. Holocene Advisors LP bought a new stake in Affirm in the third quarter worth approximately $27,872,000. Charles Schwab Investment Management Inc. increased its holdings in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Affirm by 269.7% during the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after acquiring an additional 528,400 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.