Affirm (NASDAQ:AFRM) Price Target Raised to $85.00 at JMP Securities

Affirm (NASDAQ:AFRM) had its target price upped by JMP Securities from $78.00 to $85.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 12.14% from the company’s current price.

AFRM has been the subject of a number of other reports. Barclays upped their price objective 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. Compass Point upgraded Affirm from a “sell” rating to a “neutral” rating and upped their target price for the stock from $20.00 to $61.00 in a research note on Tuesday, January 28th. William Blair initiated coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an “outperform” rating on the stock. The Goldman Sachs Group boosted their price target on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.06.

Affirm Price Performance

AFRM stock traded up $14.05 during midday trading on Friday, hitting $75.80. The company’s stock had a trading volume of 18,832,240 shares, compared to its average volume of 5,989,954. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of -53.38 and a beta of 3.66. The company has a 50 day moving average of $62.98 and a two-hundred day moving average of $48.86. Affirm has a 12 month low of $22.25 and a 12 month 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.

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

Insider Activity

In related news, CFO Robert O’hare sold 100,938 shares of the company’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 value of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Libor Michalek sold 6,629 shares of Affirm stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the transaction, the president now directly owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,339,564 shares of company stock valued at $87,252,461. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Amundi grew its position in shares of Affirm by 107.5% in the fourth quarter. Amundi now owns 603,437 shares of the company’s stock valued at $35,404,000 after purchasing an additional 312,620 shares during the period. West Family Investments Inc. acquired a new stake in shares of Affirm in the 4th quarter valued at about $296,000. Raymond James Financial Inc. acquired a new stake in shares of Affirm during the 4th quarter valued at approximately $14,591,000. Arizona State Retirement System lifted its position in shares of Affirm by 2.1% in the 4th quarter. Arizona State Retirement System now owns 69,827 shares of the company’s stock worth $4,252,000 after buying an additional 1,453 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Affirm during the fourth quarter valued at approximately $8,831,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.