Affirm (NASDAQ:AFRM) Given New $110.00 Price Target at TD Cowen

Affirm (NASDAQ:AFRM) had its target price reduced by TD Cowen from $115.00 to $110.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on AFRM. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Wall Street Zen downgraded Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Wells Fargo & Company initiated coverage on Affirm in a research note on Tuesday, October 21st. They set an “overweight” rating and a $89.00 target price on the stock. Morgan Stanley cut their price target on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a report on Friday, November 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Affirm from $97.00 to $87.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Affirm Stock Performance

Shares of AFRM stock opened at $81.61 on Thursday. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. The firm has a 50-day moving average of $72.08 and a 200-day moving average of $73.97. Affirm has a one year low of $30.90 and a one year high of $100.00. The company has a market cap of $26.94 billion, a P/E ratio of 121.81, a P/E/G ratio of 3.77 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The business had revenue of $933.34 million during the quarter, compared to the consensus estimate of $881.83 million. During the same period in the prior year, the firm posted ($0.31) EPS. The firm’s quarterly revenue was up 33.6% compared to the same quarter last year. Equities research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Transactions at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. This represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 711,256 shares of company stock valued at $57,231,923 in the last quarter. Company insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Gateway Investment Advisers LLC purchased a new stake in shares of Affirm during the third quarter worth about $1,315,000. Norges Bank bought a new position in Affirm during the 2nd quarter valued at approximately $183,475,000. Aspire Capital Advisors LLC purchased a new stake in Affirm in the 2nd quarter worth approximately $310,000. Truist Financial Corp grew its position in shares of Affirm by 236.6% in the 2nd quarter. Truist Financial Corp now owns 60,725 shares of the company’s stock worth $4,199,000 after buying an additional 42,686 shares during the last quarter. Finally, GraniteShares Advisors LLC purchased a new position in shares of Affirm during the second quarter valued at approximately $554,000. 69.29% of the stock is currently owned by institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.