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

Affirm (NASDAQ:AFRM) had its price target boosted by investment analysts at Morgan Stanley from $39.00 to $55.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 6.70% from the stock’s current price.

Other analysts have also issued research reports about the stock. Mizuho raised their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. Susquehanna cut shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. Wells Fargo & Company increased their price objective on shares of Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Barclays upped their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $62.88.

Affirm Stock Up 2.3 %

AFRM stock opened at $58.95 on Tuesday. The company has a market capitalization of $18.51 billion, a P/E ratio of -41.51 and a beta of 3.67. Affirm has a 12 month low of $22.25 and a 12 month high of $73.34. The firm’s fifty day simple moving average is $63.73 and its 200-day simple moving average is $47.74. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm posted ($0.57) EPS. As a group, equities research analysts forecast that Affirm will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Affirm news, COO Michael Linford sold 400,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This trade represents a 82.40 % 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, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,323,478 shares of company stock worth $86,285,371. Insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC acquired a new stake in Affirm in the 3rd quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its holdings in shares of Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the period. R Squared Ltd purchased a new position in Affirm during the 4th quarter valued at about $33,000. Advisors Asset Management Inc. grew its position in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Affirm by 200.5% during the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during the period. 69.29% of the stock is owned by hedge funds and other 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.