UBS Group Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective boosted by UBS Group from $46.00 to $62.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price indicates a potential downside of 13.16% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Barclays raised their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. increased their price objective on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, Morgan Stanley increased their price objective on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.67.

Affirm Stock Performance

NASDAQ:AFRM traded up $9.65 during mid-day trading on Friday, hitting $71.40. The stock had a trading volume of 8,043,707 shares, compared to its average volume of 5,535,005. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of -51.10 and a beta of 3.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a 50 day simple moving average of $62.98 and a 200-day simple moving average of $48.86. Affirm has a 52 week low of $22.25 and a 52 week high of $76.88.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) 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%. On average, research analysts expect that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the transaction, the insider now owns 93,545 shares in the company, valued at approximately $5,149,652.25. This represents a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,339,564 shares of company stock valued at $87,252,461. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AFRM. AQR Capital Management LLC raised its position in Affirm by 2.5% in the second quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock valued at $880,000 after purchasing an additional 722 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Affirm by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after acquiring an additional 3,105 shares in the last quarter. LifePro Asset Management acquired a new position in Affirm in the third quarter valued at $2,078,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm during the third quarter worth about $29,000. Finally, Kathleen S. Wright Associates Inc. lifted its position in Affirm by 27.6% in the third quarter. Kathleen S. Wright Associates Inc. now owns 5,210 shares of the company’s stock valued at $213,000 after purchasing an additional 1,128 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Company Profile

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.