Barclays Lowers Affirm (NASDAQ:AFRM) Price Target to $41.00

Affirm (NASDAQ:AFRM) had its price target trimmed by Barclays from $50.00 to $41.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. BMO Capital Markets upped their target price on Affirm from $44.00 to $47.00 and gave the company a market perform rating in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their price objective on shares of Affirm from $35.00 to $41.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Stephens boosted their target price on shares of Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research report on Friday, February 9th. Morgan Stanley lowered shares of Affirm from an equal weight rating to an underweight rating and increased their price target for the stock from $15.00 to $20.00 in a research report on Monday, December 18th. Finally, Wedbush restated an underperform rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $27.86.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $30.92 on Tuesday. Affirm has a one year low of $8.80 and a one year high of $52.48. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of -12.42 and a beta of 3.58. The stock’s fifty day moving average price is $37.00 and its two-hundred day moving average price is $34.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. On average, equities analysts forecast that Affirm will post -2.45 EPS for the current year.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total transaction of $319,001.64. Following the sale, the director now directly owns 78,552 shares in the company, valued at approximately $2,701,403.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its position in Affirm by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,298,330 shares of the company’s stock worth $27,615,000 after purchasing an additional 23,248 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Affirm in the third quarter worth approximately $3,701,000. Trexquant Investment LP boosted its holdings in Affirm by 79.1% in the third quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock valued at $8,421,000 after acquiring an additional 174,807 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Affirm during the 4th quarter valued at approximately $1,816,000. Finally, AXQ Capital LP bought a new position in Affirm during the 3rd quarter worth approximately $735,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.