Truist Financial Raises Affirm (NASDAQ:AFRM) Price Target to $75.00

Affirm (NASDAQ:AFRM) had its price target upped by equities research analysts at Truist Financial from $71.00 to $75.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 19.31% from the company’s previous close.

Several other equities research analysts have also recently commented on AFRM. Citizens Jmp lowered their target price on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Oppenheimer lowered their target price on Affirm from $95.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Morgan Stanley reissued an “overweight” rating on shares of Affirm in a research note on Wednesday, March 4th. Susquehanna reissued a “positive” rating and issued a $100.00 target price on shares of Affirm in a research note on Friday, February 6th. Finally, Robert W. Baird began coverage on Affirm in a research note on Thursday, February 19th. They issued a “neutral” rating and a $55.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $83.76.

Affirm Trading Down 0.2%

Shares of NASDAQ AFRM traded down $0.12 during midday trading on Friday, hitting $62.86. The stock had a trading volume of 588,336 shares, compared to its average volume of 6,208,733. The company’s 50-day simple moving average is $50.28 and its 200 day simple moving average is $63.76. The firm has a market cap of $20.94 billion, a P/E ratio of 77.49, a price-to-earnings-growth ratio of 4.64 and a beta of 3.63. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Research analysts anticipate that Affirm will post 1.08 EPS for the current year.

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total transaction of $110,000.00. Following the completion of the sale, the director directly owned 38,076 shares of the company’s stock, valued at $2,094,180. The trade was a 4.99% decrease in their ownership of the stock. 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. 11.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently made changes to their positions in AFRM. Assetmark Inc. grew its stake in shares of Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the period. Greenline Wealth Management LLC acquired a new stake in shares of Affirm during the fourth quarter worth $26,000. Mather Group LLC. acquired a new stake in shares of Affirm during the third quarter worth $29,000. Triumph Capital Management acquired a new stake in shares of Affirm during the third quarter worth $31,000. Finally, CoreCap Advisors LLC grew its stake in shares of Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after purchasing an additional 358 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

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.