Affirm (NASDAQ:AFRM) Price Target Raised to $56.00 at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its price target raised by analysts at JPMorgan Chase & Co. from $47.00 to $56.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 28.82% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Barclays boosted their price objective on shares of Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Bank of America boosted their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Mizuho reissued an “outperform” rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Finally, Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus target price of $43.97.

Affirm Stock Performance

Shares of NASDAQ AFRM traded down $5.32 during midday trading on Friday, reaching $43.47. 15,362,150 shares of the company were exchanged, compared to its average volume of 8,788,527. The stock has a fifty day simple moving average of $42.93 and a 200 day simple moving average of $34.75. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a market cap of $13.52 billion, a P/E ratio of -25.79 and a beta of 3.47. Affirm has a 1 year low of $21.87 and a 1 year high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The business had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. On average, research analysts forecast that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,800 shares of company stock worth $4,554,288. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Large investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in Affirm in the 2nd quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in Affirm in the third quarter valued at about $29,000. Allspring Global Investments Holdings LLC raised its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the last quarter. ORG Partners LLC raised its holdings in Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares during the last quarter. Institutional investors 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.