Wells Fargo & Company Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective hoisted by Wells Fargo & Company from $70.00 to $85.00 in a research note issued to investors on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Mizuho boosted their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft upped their price objective on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Compass Point raised shares of Affirm from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $20.00 to $61.00 in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Affirm Trading Up 21.8 %

Affirm stock opened at $75.22 on Friday. Affirm has a one year low of $22.25 and a one year high of $76.88. The business’s fifty day moving average is $63.09 and its 200 day moving average is $49.18. The stock has a market capitalization of $23.62 billion, a PE ratio of -52.97 and a beta of 3.66. 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 (NASDAQ:AFRM) last announced its quarterly earnings results 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 EPS for the current year.

Insider Activity

In related news, CFO Robert O’hare sold 100,938 shares of Affirm 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares of the company’s stock, valued at $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. 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. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hanseatic Management Services Inc. boosted its holdings in shares of Affirm by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock valued at $109,000 after purchasing an additional 194 shares during the last quarter. KBC Group NV lifted its position in shares of Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after buying an additional 222 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after buying an additional 233 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Affirm by 29.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock valued at $87,000 after buying an additional 325 shares in the last quarter. Finally, Waldron Private Wealth LLC increased its stake in Affirm by 7.0% in the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock worth $334,000 after acquiring an additional 357 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.