Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Bank of America Analyst Says

Affirm (NASDAQ:AFRM) had its price target raised by Bank of America from $50.00 to $74.00 in a report released on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on AFRM. Barclays lifted their price target on Affirm from $54.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a research note on Friday, October 4th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Susquehanna upped their price objective on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.13.

Affirm Trading Up 4.2 %

AFRM stock opened at $69.35 on Friday. Affirm has a one year low of $22.25 and a one year high of $70.20. The company has a market capitalization of $21.78 billion, a PE ratio of -48.84 and a beta of 3.47. The company’s 50 day moving average price is $47.39 and its two-hundred day moving average price is $37.01. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the firm posted ($0.57) earnings per share. As a group, analysts predict that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 671,100 shares of company stock worth $38,575,547 over the last ninety days. 12.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV increased its stake in Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc increased its position in Affirm by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares in the last quarter. Finally, Myecfo LLC increased its holdings in Affirm by 5.0% during the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after buying an additional 589 shares during the period. 69.29% of the stock is currently owned by institutional investors.

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.