Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Barclays Analyst Says

Affirm (NASDAQ:AFRM) had its price objective upped by analysts at Barclays from $54.00 to $64.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 0.06% from the company’s previous close.

Several other equities analysts have also recently weighed in on AFRM. Wells Fargo & Company raised their price target on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Bank of America increased their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Susquehanna boosted their target price on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $46.85.

Affirm Price Performance

AFRM stock opened at $63.96 on Monday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company’s fifty day moving average price is $45.50 and its 200-day moving average price is $36.11. Affirm has a one year low of $22.25 and a one year high of $64.01. The company has a market capitalization of $20.09 billion, a PE ratio of -45.04 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last announced 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. The business had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the company earned ($0.57) EPS. On average, equities analysts anticipate that Affirm will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 403,738 shares of company stock worth $21,115,878 over the last quarter. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors raised its holdings in shares of Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after acquiring an additional 77,050 shares in the last quarter. Spyglass Capital Management LLC raised its holdings in shares of Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after acquiring an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares during the period. Finally, Dragoneer Investment Group LLC bought a new position in Affirm during the 2nd quarter worth about $45,219,000. 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.