Affirm (NASDAQ:AFRM) Price Target Raised to $90.00

Affirm (NASDAQ:AFRM) had its price objective hoisted by JPMorgan Chase & Co. from $80.00 to $90.00 in a research note released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets began coverage on shares of Affirm in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 price objective for the company. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a report on Tuesday, May 26th. Susquehanna lifted their price target on Affirm from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Thursday, June 25th. Truist Financial boosted their price objective on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Citigroup upped their price objective on Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $90.35.

Affirm Stock Down 0.4%

Shares of AFRM opened at $83.42 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 75.84, a price-to-earnings-growth ratio of 3.45 and a beta of 3.67. Affirm has a 1 year low of $42.10 and a 1 year high of $100.00. The business’s 50 day simple moving average is $71.67 and its 200-day simple moving average is $63.66.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same period last year, the firm posted $0.01 earnings per share. Affirm’s revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, equities analysts expect that Affirm will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 104,000 shares of company stock worth $8,244,000. Insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Affirm in the fourth quarter worth approximately $281,961,000. Invesco Ltd. boosted its holdings in Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after acquiring an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock valued at $157,004,000 after acquiring an additional 2,141,881 shares during the period. Atreides Management LP boosted its holdings in Affirm by 543.3% during the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after acquiring an additional 1,670,429 shares during the period. Finally, State Street Corp grew its position in Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after acquiring an additional 1,187,665 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.