Affirm (NASDAQ:AFRM) Price Target Raised to $88.00

Affirm (NASDAQ:AFRM) had its price objective upped by Truist Financial from $85.00 to $88.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also commented on AFRM. Oppenheimer boosted their price target on shares of Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Citigroup reaffirmed a “market outperform” rating on shares of Affirm in a research note on Friday, August 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Bank of America boosted their target price on shares of Affirm from $93.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Finally, Piper Sandler upped their target price on shares of Affirm from $103.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Twenty-four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average price target of $97.81.

Affirm Stock Performance

Shares of Affirm stock opened at $70.08 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. Affirm has a 52 week low of $42.10 and a 52 week high of $90.44. The stock has a 50 day moving average price of $73.26 and a two-hundred day moving average price of $71.45. The stock has a market capitalization of $23.65 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.81 and a beta of 3.82.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, equities analysts anticipate that Affirm will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the completion of the sale, the insider owned 152,439 shares in the company, valued at approximately $11,513,717.67. This represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the sale, the chief financial officer directly owned 2,734 shares of the company’s stock, valued at $218,774.68. The trade was a 96.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 280,118 shares of company stock worth $22,223,307. 11.01% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

Institutional investors have recently made changes to their positions in the company. Syntegra Private Wealth Group LLC bought a new position in shares of Affirm during the first quarter valued at about $28,000. Reyes Financial Architecture Inc. bought a new stake in Affirm in the 3rd quarter worth about $31,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Affirm in the 1st quarter valued at about $34,000. Ascentis Independent Advisors purchased a new stake in Affirm in the 1st quarter valued at about $41,000. Finally, Mather Group LLC. increased its stake in Affirm by 52.9% in the 3rd quarter. Mather Group LLC. now owns 613 shares of the company’s stock valued at $42,000 after buying an additional 212 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.