Affirm (NASDAQ:AFRM) Price Target Raised to $85.00 at Wells Fargo & Company

Affirm (NASDAQ:AFRM) had its target price lifted by Wells Fargo & Company from $70.00 to $85.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

AFRM has been the subject of several other reports. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the company from $25.00 to $45.00 in a report on Monday, October 14th. Barclays raised their target price on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. William Blair began coverage on shares of Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, JMP Securities upgraded shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Affirm Stock Performance

NASDAQ:AFRM opened at $75.22 on Friday. Affirm has a 1-year low of $22.25 and a 1-year high of $76.88. 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 business has a 50 day moving average of $63.09 and a 200 day moving average of $49.18. The company has a market capitalization 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 data 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, sell-side analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, President Libor Michalek sold 100,000 shares of the company’s 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 sale, the president now directly owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the transaction, the director now directly owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,339,564 shares of company stock worth $87,252,461. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Affirm by 2.5% in the second quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock worth $880,000 after acquiring an additional 722 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Affirm by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock worth $1,558,000 after purchasing an additional 3,105 shares during the last quarter. LifePro Asset Management purchased a new position in shares of Affirm in the 3rd quarter worth about $2,078,000. ORG Wealth Partners LLC bought a new position in Affirm in the 3rd quarter worth about $29,000. Finally, Kathleen S. Wright Associates Inc. grew its position in Affirm by 27.6% during the 3rd 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 last quarter. Hedge funds and other 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.