Affirm (NASDAQ:AFRM) Given New $41.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its price target reduced by equities researchers at Barclays from $50.00 to $41.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 33.42% from the company’s current price.

AFRM has been the subject of several other research reports. The Goldman Sachs Group raised their price target on shares of Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wedbush reissued an “underperform” rating and issued a $20.00 price target on shares of Affirm in a research report on Friday, February 9th. BMO Capital Markets lifted their price objective on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Stephens lifted their price objective on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Finally, Morgan Stanley downgraded shares of Affirm from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $15.00 to $20.00 in a report on Monday, December 18th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.86.

Affirm Stock Performance

NASDAQ:AFRM traded down $0.33 during mid-day trading on Tuesday, reaching $30.73. 3,933,611 shares of the company’s stock were exchanged, compared to its average volume of 9,764,409. Affirm has a one year low of $8.80 and a one year high of $52.48. The firm has a market capitalization of $9.43 billion, a PE ratio of -12.34 and a beta of 3.58. The business’s fifty day simple moving average is $37.25 and its two-hundred day simple moving average is $34.41. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. The firm had revenue of $591.11 million for the quarter, compared to the consensus estimate of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. Analysts anticipate that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Large investors have recently modified their holdings of the stock. Planned Solutions Inc. bought a new stake in shares of Affirm during the 4th quarter valued at about $25,000. Covestor Ltd bought a new position in shares of Affirm during the 1st quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV grew its stake in shares of Affirm by 82.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the period. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the 4th quarter valued at approximately $33,000. Finally, American International Group Inc. bought a new position in shares of Affirm during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors 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.