Barclays Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its target price upped by research analysts at Barclays from $75.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 13.00% from the stock’s current price.

Several other equities research analysts have also recently commented on AFRM. JMP Securities boosted their price target on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a research report on Friday. Wells Fargo & Company upped their target price on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Thursday, December 19th. UBS Group upped their price objective on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Mizuho raised their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.53.

Affirm Stock Up 21.8 %

AFRM stock opened at $75.22 on Monday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The stock has a market capitalization of $23.62 billion, a P/E ratio of -115.72 and a beta of 3.66. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $76.88. The business has a 50-day moving average of $63.09 and a 200-day moving average of $49.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.29% and a negative net margin of 7.10%. On average, sell-side analysts anticipate that Affirm will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, President Libor Michalek sold 100,000 shares of Affirm stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the sale, the president now owns 159,449 shares in the company, valued at $9,885,838. The trade was a 38.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O’hare sold 11,218 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $70.00, for a total transaction of $785,260.00. The disclosure for this sale can be found here. Insiders sold 1,038,626 shares of company stock worth $70,690,871 in the last ninety days. 12.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Avantax Advisory Services Inc. acquired a new stake in Affirm during the fourth quarter worth approximately $340,000. Independent Advisor Alliance increased its position in shares of Affirm by 9.6% in the fourth quarter. Independent Advisor Alliance now owns 18,024 shares of the company’s stock worth $1,098,000 after purchasing an additional 1,575 shares during the period. SLT Holdings LLC acquired a new position in Affirm in the fourth quarter valued at about $247,000. Amundi lifted its position in Affirm by 107.5% during the fourth quarter. Amundi now owns 603,437 shares of the company’s stock worth $35,404,000 after purchasing an additional 312,620 shares during the period. Finally, West Family Investments Inc. acquired a new stake in Affirm during the fourth quarter worth about $296,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.