Wells Fargo & Company Raises Affirm (NASDAQ:AFRM) Price Target to $70.00

Affirm (NASDAQ:AFRM) had its price target upped by Wells Fargo & Company from $55.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 20.71% from the company’s previous close.

AFRM has been the topic of several other research reports. The Goldman Sachs Group lifted their price objective on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Barclays upped their price target on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and raised their price target for the stock from $70.00 to $82.00 in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.88.

Affirm Price Performance

AFRM opened at $57.99 on Thursday. The stock has a market capitalization of $18.21 billion, a P/E ratio of -40.84 and a beta of 3.67. 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 12-month low of $22.25 and a 12-month high of $73.34. The stock has a 50-day moving average price of $63.77 and a 200-day moving average price of $45.86.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate 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 period last year, the firm posted ($0.57) earnings per share. Equities analysts predict that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the transaction, the director now owns 93,694 shares in the company, valued at $5,839,010.08. The trade was a 14.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold a total of 1,323,478 shares of company stock valued at $86,285,371 in the last three months. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently made changes to their positions in AFRM. ORG Wealth Partners LLC bought a new position in Affirm in the 3rd quarter valued at approximately $29,000. Advisors Asset Management Inc. raised its stake in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Affirm by 200.5% during the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in Affirm in the 3rd quarter worth about $65,000. Finally, Brooklyn Investment Group purchased a new position in Affirm in the 3rd quarter worth about $78,000. Hedge funds and other institutional investors 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.