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

Affirm (NASDAQ:AFRM) had its price target lifted by Truist Financial from $80.00 to $83.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

AFRM has been the topic of several other research reports. Compass Point set a $100.00 price target on shares of Affirm in a research note on Friday, July 17th. TD Cowen lifted their price objective on shares of Affirm from $90.00 to $117.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Sanford C. Bernstein started coverage on shares of Affirm in a report on Tuesday. They issued an “outperform” rating and a $100.00 price objective for the company. BMO Capital Markets assumed coverage on shares of Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Barclays began coverage on Affirm in a report on Wednesday, July 8th. They set an “overweight” rating and a $97.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Affirm has a consensus rating of “Moderate Buy” and an average target price of $92.74.

Affirm Stock Down 1.4%

Shares of Affirm stock opened at $70.23 on Friday. The firm has a market cap of $23.52 billion, a price-to-earnings ratio of 63.85, a P/E/G ratio of 2.90 and a beta of 3.67. The stock has a 50-day simple moving average of $73.92 and a 200-day simple moving average of $63.76. Affirm has a 52-week low of $42.10 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, equities research analysts expect that Affirm will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their position. 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. Also, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares in the company, valued at $2,344,940. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently made changes to their positions in the business. Greenline Wealth Management LLC bought a new stake in Affirm during the 4th quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC bought a new position in Affirm in the 1st quarter worth approximately $28,000. Triumph Capital Management bought a new position in Affirm in the 3rd quarter worth approximately $31,000. CoreCap Advisors LLC lifted its holdings in shares of Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after buying an additional 358 shares during the last quarter. Finally, Strive Financial Group LLC acquired a new position in shares of Affirm during the fourth quarter worth approximately $33,000. 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.