UBS Group Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective hoisted by investment analysts at UBS Group from $46.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential downside of 13.16% from the stock’s previous close.

AFRM has been the subject of a number of other research reports. Compass Point upgraded shares of Affirm from a “sell” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $61.00 in a research report on Tuesday, January 28th. Bank of America raised their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective for the company. in a report on Tuesday, January 21st. Finally, Mizuho lifted their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Affirm Stock Performance

AFRM traded up $9.65 on Friday, hitting $71.40. 8,043,707 shares of the company’s stock were exchanged, compared to its average volume of 5,535,005. The firm has a market cap of $22.42 billion, a PE ratio of -51.10 and a beta of 3.66. Affirm has a twelve month low of $22.25 and a twelve month high of $76.88. The stock has a fifty day moving average of $62.98 and a two-hundred day moving average of $48.86. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 EPS 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%. On average, research analysts anticipate that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Libor Michalek sold 6,629 shares of the firm’s 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 completion of the sale, the president now directly owns 160,601 shares of the company’s stock, valued at $11,576,120.08. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,339,564 shares of company stock worth $87,252,461 over the last ninety days. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in the company. West Family Investments Inc. bought a new position in shares of Affirm during the fourth quarter valued at $296,000. Raymond James Financial Inc. bought a new stake in Affirm in the 4th quarter worth about $14,591,000. Arizona State Retirement System increased its holdings in 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 in the last quarter. Proficio Capital Partners LLC bought a new stake in Affirm in the 4th quarter worth about $8,831,000. Finally, M&T Bank Corp increased its holdings in Affirm by 18.8% in the 4th quarter. M&T Bank Corp now owns 21,027 shares of the company’s stock worth $1,280,000 after buying an additional 3,325 shares in the last quarter. 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.