Robert W. Baird Boosts Affirm (NASDAQ:AFRM) Price Target to $82.00

Affirm (NASDAQ:AFRM) had its price objective lifted by equities research analysts at Robert W. Baird from $70.00 to $82.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price points to a potential upside of 0.09% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. Citigroup upped their price objective on Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. UBS Group increased their price target on shares of Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Truist Financial lifted their price target on shares of Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Oppenheimer reissued an “outperform” rating and set a $87.00 price target on shares of Affirm in a research note on Friday, May 8th. Finally, Citizens Jmp lowered their price objective on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a report on Friday, April 17th. One analyst has 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.81.

Affirm Price Performance

AFRM stock opened at $81.93 on Tuesday. 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 has a one year low of $42.10 and a one year high of $100.00. The stock has a market cap of $27.44 billion, a PE ratio of 74.48, a P/E/G ratio of 3.37 and a beta of 3.67. The firm has a 50 day simple moving average of $72.02 and a two-hundred day simple moving average of $63.60.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $995.27 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, analysts predict that Affirm will post 1.23 EPS for the current fiscal year.

Insider Activity

In related news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds have recently made changes to their positions in AFRM. Handelsbanken Fonder AB raised its holdings in shares of Affirm by 6.5% during the second quarter. Handelsbanken Fonder AB now owns 80,200 shares of the company’s stock valued at $6,540,000 after acquiring an additional 4,900 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in Affirm in the second quarter valued at $233,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Affirm by 9.8% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 30,310 shares of the company’s stock valued at $2,472,000 after acquiring an additional 2,700 shares in the last quarter. Balefire LLC purchased a new position in Affirm during the 2nd quarter valued at $248,000. Finally, GAMMA Investing LLC increased its position in Affirm by 25.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,609 shares of the company’s stock valued at $457,000 after purchasing an additional 1,134 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.