Affirm (NASDAQ:AFRM) Given New $80.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its price objective boosted by Barclays from $67.00 to $80.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also commented on AFRM. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Affirm in a research report on Thursday, June 5th. Truist Financial initiated coverage on shares of Affirm in a research report on Monday, June 2nd. They set a “buy” rating and a $58.00 price target for the company. The Goldman Sachs Group upped their price target on shares of Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Morgan Stanley dropped their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Finally, TD Cowen initiated coverage on shares of Affirm in a research report on Tuesday, April 8th. They set a “buy” rating and a $50.00 price target for the company. Nine research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.67.

Affirm Stock Performance

NASDAQ:AFRM opened at $68.37 on Monday. The firm has a 50 day simple moving average of $55.95 and a 200-day simple moving average of $56.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The firm has a market cap of $22.06 billion, a PE ratio of -325.57, a P/E/G ratio of 2.44 and a beta of 3.63. Affirm has a 1-year low of $22.25 and a 1-year high of $82.53.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The company’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, equities analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director directly owned 36,497 shares in the company, valued at approximately $2,221,207.42. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Rabois sold 16,089 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the completion of the transaction, the director owned 29,343 shares of the company’s stock, valued at $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Truist Financial Corp purchased a new position in shares of Affirm in the fourth quarter valued at $212,000. IFP Advisors Inc boosted its stake in Affirm by 47.2% during the 4th quarter. IFP Advisors Inc now owns 3,438 shares of the company’s stock valued at $212,000 after acquiring an additional 1,103 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after acquiring an additional 5,169 shares during the last quarter. Amalgamated Bank boosted its stake in Affirm by 11.9% during the 4th quarter. Amalgamated Bank now owns 13,493 shares of the company’s stock valued at $822,000 after acquiring an additional 1,432 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Affirm during the 4th quarter valued at $8,831,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.