Barclays Increases Affirm (NASDAQ:AFRM) Price Target to $54.00

Affirm (NASDAQ:AFRM) had its price objective increased by investment analysts at Barclays from $50.00 to $54.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 21.02% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Bank of America lifted their target price on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BTIG Research began coverage on Affirm in a research report on Friday, June 7th. They set a “neutral” rating for the company. JMP Securities assumed coverage on Affirm in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Royal Bank of Canada upped their price target on Affirm from $43.00 to $46.00 and gave the stock a “sector perform” rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Affirm in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Affirm presently has a consensus rating of “Hold” and a consensus price target of $35.53.

Affirm Stock Down 0.1 %

Shares of Affirm stock opened at $44.62 on Monday. The stock has a 50-day simple moving average of $33.49 and a 200-day simple moving average of $32.79. Affirm has a 52-week low of $15.97 and a 52-week high of $52.48. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of -20.01 and a beta of 3.51. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The company had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. On average, equities research analysts expect that Affirm will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith Rabois sold 9,275 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the sale, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 121,351 shares of company stock valued at $5,081,045. 13.05% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

Several hedge funds have recently modified their holdings of AFRM. Ridgewood Investments LLC bought a new position in Affirm in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. bought a new stake in Affirm in the fourth quarter valued at about $33,000. Global Wealth Strategies & Associates lifted its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the period. Allspring Global Investments Holdings LLC boosted 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 worth $36,000 after buying an additional 540 shares during the last quarter. Finally, ORG Partners LLC grew its position in shares of Affirm by 80.0% during the 2nd 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 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.