Affirm (NASDAQ:AFRM) Stock Price Target Lowered at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its price target decreased by equities researchers at JPMorgan Chase & Co. from $105.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 39.48% from the stock’s current price.

Several other research firms also recently commented on AFRM. Susquehanna boosted their price target on shares of Affirm from $105.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, August 28th. Piper Sandler reduced their price objective on Affirm from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank Of Canada decreased their target price on Affirm from $96.00 to $83.00 and set a “sector perform” rating for the company in a report on Friday. Bank of America reissued a “buy” rating and set a $109.00 target price on shares of Affirm in a research note on Friday. Finally, Dbs Bank upgraded Affirm to a “moderate buy” rating in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.96.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $68.11 on Friday. Affirm has a twelve month low of $42.10 and a twelve month high of $90.44. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $72.54 and a 200-day simple moving average of $66.56. The stock has a market capitalization of $22.98 billion, a PE ratio of 11.82, a PEG ratio of 2.77 and a beta of 3.74.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Affirm had a net margin of 43.86% and a return on equity of 47.13%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, equities analysts forecast that Affirm will post 1.89 earnings per share for the current year.

Insider Activity at Affirm

In other news, CAO Siphelele Jiyane sold 26,980 shares of Affirm stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the sale, the chief accounting officer owned 188,711 shares in the company, valued at approximately $13,623,047.09. The trade was a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert O’Hare sold 65,591 shares of Affirm stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total value of $5,248,591.82. Following the sale, the chief financial officer owned 2,734 shares in the company, valued at $218,774.68. This trade represents a 96.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 280,118 shares of company stock valued at $22,223,307 in the last ninety days. 11.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Spyglass Capital Management LLC increased its position in Affirm by 15.2% during the first quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company’s stock worth $76,168,000 after buying an additional 218,745 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Affirm by 23.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company’s stock valued at $71,829,000 after acquiring an additional 303,037 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Affirm by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock valued at $72,100,000 after acquiring an additional 166,252 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Affirm during the second quarter worth approximately $75,121,000. Finally, Swiss National Bank grew its position in shares of Affirm by 8.8% during the first quarter. Swiss National Bank now owns 806,800 shares of the company’s stock worth $36,968,000 after acquiring an additional 65,000 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile