Mizuho Has Lowered Expectations for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its target price dropped by analysts at Mizuho from $114.00 to $95.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 66.58% from the stock’s current price.

Several other research firms have also issued reports on AFRM. Evercore restated an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. Wolfe Research started coverage on Affirm in a report on Tuesday, December 9th. They set a “peer perform” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a research note on Monday, December 29th. Royal Bank Of Canada reduced their price objective on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday. Finally, Stephens decreased their price objective on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.67.

Affirm Stock Down 4.0%

Shares of NASDAQ AFRM opened at $57.03 on Monday. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00. The firm’s 50-day moving average is $71.53 and its 200-day moving average is $74.29. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The firm has a market capitalization of $18.82 billion, a PE ratio of 70.41, a price-to-earnings-growth ratio of 2.51 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $0.23 earnings per share. Affirm’s revenue was up 29.6% compared to the same quarter last year. Equities analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 711,256 shares of company stock worth $57,231,923. Insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AFRM. Royal Bank of Canada boosted its position in Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after acquiring an additional 3,892 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after buying an additional 8,014 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Affirm in the 1st quarter valued at about $243,000. Prime Capital Investment Advisors LLC bought a new stake in Affirm during the second quarter worth about $224,000. Finally, Maryland State Retirement & Pension System grew its stake in Affirm by 7.6% in the second quarter. Maryland State Retirement & Pension System now owns 13,041 shares of the company’s stock valued at $902,000 after purchasing an additional 926 shares in the last quarter. 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.