Barclays Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price objective lifted by Barclays from $53.00 to $67.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also weighed in on AFRM. TD Cowen began coverage on Affirm in a research report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 price objective on shares of Affirm in a report on Thursday, March 20th. JMP Securities cut their target price on Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Truist Financial initiated coverage on Affirm in a report on Monday, June 2nd. They issued a “buy” rating and a $58.00 target price for the company. Finally, Bank of America lifted their price target on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $64.85.

Affirm Stock Performance

Affirm stock opened at $61.34 on Monday. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a 50 day moving average of $48.13 and a 200-day moving average of $56.91. The stock has a market cap of $19.79 billion, a P/E ratio of -94.37 and a beta of 3.58. Affirm has a 52 week low of $22.25 and a 52 week high of $82.53.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) earnings per share. On average, analysts expect that Affirm will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the completion of the sale, the director now owns 38,997 shares in the company, valued at $1,785,282.66. The trade was a 6.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith Rabois sold 16,089 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director now owns 29,343 shares of the company’s stock, valued at $1,496,493. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,677 shares of company stock worth $1,665,545. 11.82% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in shares of Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after buying an additional 219 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Affirm in the 4th quarter valued at approximately $28,000. Coppell Advisory Solutions LLC bought a new position in Affirm during the fourth quarter worth about $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Affirm during the fourth quarter worth approximately $43,000. Finally, Creative Financial Designs Inc. ADV increased its position in Affirm by 640.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company’s stock worth $45,000 after buying an additional 640 shares during the last quarter. 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.