Affirm (NASDAQ:AFRM) Given New $85.00 Price Target at JMP Securities

Affirm (NASDAQ:AFRM) had its price target lifted by JMP Securities from $78.00 to $85.00 in a report published on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other brokerages have also weighed in on AFRM. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Tuesday, January 21st. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and upped their price objective for the company from $70.00 to $82.00 in a research note on Thursday, December 19th. William Blair started coverage on Affirm in a report on Wednesday, January 15th. They issued an “outperform” rating on the stock. Mizuho increased their price objective on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

Affirm Stock Performance

AFRM opened at $75.22 on Friday. The firm’s fifty day simple moving average is $63.09 and its two-hundred day simple moving average is $49.18. Affirm has a 52-week low of $22.25 and a 52-week high of $76.88. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a market cap of $23.62 billion, a price-to-earnings ratio of -52.97 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. Equities analysts anticipate that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the completion of the sale, the director now directly owns 77,608 shares in the company, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the transaction, the insider now directly owns 93,545 shares in the company, valued at $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,339,564 shares of company stock valued at $87,252,461 in the last ninety days. 12.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its holdings in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd bought a new stake in shares of Affirm in the fourth quarter worth $33,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm in the third quarter valued at about $29,000. Bogart Wealth LLC bought a new position in Affirm during the 4th quarter worth approximately $61,000. Finally, Valley National Advisers Inc. acquired a new position in shares of Affirm in the 4th quarter worth approximately $61,000. Institutional investors own 69.29% of the company’s stock.

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.