Affirm (NASDAQ:AFRM) Given New $85.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its target price upped by Barclays from $75.00 to $85.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

AFRM has been the subject of several other reports. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Morgan Stanley upped their price target on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. UBS Group lifted their price objective on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday. Royal Bank of Canada increased their target price on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. lifted their price target on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Nine analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $70.24.

Affirm Stock Up 3.4 %

Affirm stock opened at $77.75 on Monday. The company has a market capitalization of $24.42 billion, a P/E ratio of -119.62 and a beta of 3.66. Affirm has a 1-year low of $22.25 and a 1-year high of $79.67. The firm’s fifty day simple moving average is $63.27 and its 200-day simple moving average is $49.84. 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 (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.29% and a negative net margin of 7.10%. Sell-side analysts forecast that Affirm will post -0.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Libor Michalek sold 77,105 shares of Affirm stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $64.08, for a total value of $4,940,888.40. Following the completion of the transaction, the president now owns 159,449 shares in the company, valued at approximately $10,217,491.92. The trade was a 32.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 11,218 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $70.00, for a total value of $785,260.00. The disclosure for this sale can be found here. Insiders sold 1,038,626 shares of company stock worth $70,690,871 over the last three months. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.