Affirm (NASDAQ:AFRM) Price Target Raised to $75.00

Affirm (NASDAQ:AFRM) had its price objective raised by Deutsche Bank Aktiengesellschaft from $45.00 to $75.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. Susquehanna boosted their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Bank of America raised their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Mizuho upped their target price 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm has a consensus rating of “Hold” and an average target price of $58.21.

Affirm Stock Down 10.7 %

AFRM stock opened at $63.34 on Monday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The company has a market capitalization of $19.89 billion, a price-to-earnings ratio of -44.61 and a beta of 3.66. The business’s 50 day moving average price is $56.66 and its two-hundred day moving average price is $41.50.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period last year, the company posted ($0.57) EPS. As a group, analysts forecast that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $72.05, for a total transaction of $180,125.00. Following the completion of the sale, the director now directly owns 41,497 shares in the company, valued at $2,989,858.85. This represents a 5.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock valued at $84,875,518 in the last 90 days. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Several large investors have recently bought and sold shares of the stock. Dragoneer Investment Group LLC purchased a new position in shares of Affirm during the 2nd quarter valued at about $45,219,000. Artemis Investment Management LLP acquired a new position in Affirm in the 3rd quarter worth about $30,808,000. Holocene Advisors LP purchased a new position in Affirm during the third quarter worth approximately $27,872,000. Charles Schwab Investment Management Inc. grew its holdings in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the period. Finally, Bank of Montreal Can increased its position in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares in 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.