Bank of America Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM - Free Report) had its price objective increased by Bank of America from $76.00 to $80.00 in a research report sent to investors on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on AFRM. JMP Securities raised their price target on shares of Affirm from $78.00 to $85.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. The Goldman Sachs Group reduced their price target on shares of Affirm from $90.00 to $56.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Barclays lifted their price objective on shares of Affirm from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a report on Monday, March 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Affirm in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $66.63.

Affirm Trading Down 14.4%

NASDAQ AFRM traded down $7.82 during mid-day trading on Friday, reaching $46.44. 32,018,937 shares of the stock were exchanged, compared to its average volume of 8,441,150. Affirm has a one year low of $22.25 and a one year high of $82.53. The stock has a 50 day simple moving average of $46.42 and a 200-day simple moving average of $56.81. The stock has a market cap of $14.77 billion, a P/E ratio of -71.45 and a beta of 3.66. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted ($0.43) earnings per share. On average, analysts anticipate that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,089 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director now owns 29,343 shares in the company, valued at approximately $1,496,493. This trade represents a 35.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christa S. Quarles sold 5,000 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at approximately $10,986,000. This trade represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,765 shares of company stock worth $3,094,694 in the last three months. 12.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Allworth Financial LP grew its holdings in shares of Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $27,000 after purchasing an additional 219 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of Affirm during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 bought a new position in shares of Affirm during the 4th quarter valued at $33,000. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Affirm during the 4th quarter valued at $40,000. 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.