Affirm (NASDAQ:AFRM) Given New $80.00 Price Target at Cantor Fitzgerald

Affirm (NASDAQ:AFRM) had its target price upped by Cantor Fitzgerald from $61.00 to $80.00 in a research report report published on Tuesday, Marketbeat.com reports. They currently have an overweight rating on the stock.

AFRM has been the topic of several other research reports. Wall Street Zen lowered Affirm from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Bank of America started coverage on Affirm in a report on Thursday, March 5th. They set a “buy” rating and a $82.00 price objective on the stock. UBS Group set a $78.00 price objective on Affirm in a report on Friday, February 6th. Needham & Company LLC dropped their price objective on Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Finally, Oppenheimer dropped their price objective on Affirm from $95.00 to $83.00 and set an “outperform” rating on the stock in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

Affirm Price Performance

AFRM stock opened at $64.60 on Tuesday. The business has a 50 day moving average price of $49.82 and a 200 day moving average price of $63.74. The stock has a market cap of $21.52 billion, a price-to-earnings ratio of 79.75, a PEG ratio of 4.65 and a beta of 3.63. Affirm has a fifty-two week low of $41.58 and a fifty-two week high of $100.00. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. Equities research analysts anticipate that Affirm will post 1.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total transaction of $110,000.00. Following the transaction, the director owned 38,076 shares of the company’s stock, valued at $2,094,180. This trade represents a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock valued at $1,849,378,000 after purchasing an additional 428,138 shares during the period. Capital Research Global Investors lifted its position in Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after purchasing an additional 104,239 shares during the period. Capital World Investors lifted its position in Affirm by 2.4% in the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after purchasing an additional 507,224 shares during the period. Durable Capital Partners LP lifted its position in Affirm by 12.3% in the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after purchasing an additional 808,455 shares during the period. Finally, State Street Corp lifted its position in Affirm by 26.7% in the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after purchasing an additional 1,187,665 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.