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

Affirm (NASDAQ:AFRM) had its target price boosted by research analysts at JMP Securities from $78.00 to $85.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective points to a potential upside of 12.14% from the stock’s previous close.

A number of other research firms have also recently issued reports on AFRM. William Blair started coverage on Affirm in a report on Wednesday, January 15th. They issued an “outperform” rating for the company. UBS Group raised their target price on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday. Mizuho raised their price objective on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Friday. Finally, Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating 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 issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.06.

Affirm Stock Performance

Shares of Affirm stock traded up $14.05 during midday trading on Friday, hitting $75.80. The company had a trading volume of 18,832,240 shares, compared to its average volume of 5,989,954. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a 1-year low of $22.25 and a 1-year high of $76.88. The business’s 50 day simple moving average is $62.98 and its two-hundred day simple moving average is $48.86. The stock has a market cap of $23.80 billion, a PE ratio of -53.38 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. As a group, equities analysts predict that Affirm will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the sale, the director now owns 77,608 shares in the company, valued at approximately $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,339,564 shares of company stock valued at $87,252,461 over the last 90 days. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently bought and sold shares of the company. ORG Wealth Partners LLC purchased a new stake in shares of Affirm in the 3rd quarter valued at $29,000. Geneos Wealth Management Inc. raised its position in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares during the last quarter. R Squared Ltd purchased a new stake in Affirm in the 4th quarter worth approximately $33,000. Advisors Asset Management Inc. grew its position in shares of Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after buying an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Affirm by 200.5% during the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.