Affirm (NASDAQ:AFRM) Price Target Raised to $80.00 at Barclays

Affirm (NASDAQ:AFRM - Get Free Report) had its target price boosted by equities researchers at Barclays from $67.00 to $80.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 19.23% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. JMP Securities cut their price objective on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Bank of America boosted their price target on Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. Evercore ISI started coverage on Affirm in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $50.00 price objective on the stock. Wall Street Zen cut shares of Affirm from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Morgan Stanley lowered their price target on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.67.

Affirm Stock Performance

Affirm stock traded down $2.04 during midday trading on Monday, reaching $67.10. 5,522,903 shares of the company traded hands, compared to its average volume of 8,382,917. Affirm has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The business has a 50 day moving average of $55.52 and a two-hundred day moving average of $56.36. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of -319.52, a price-to-earnings-growth ratio of 57.80 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) EPS. As a group, research analysts predict that Affirm will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other news, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the transaction, the director owned 29,343 shares in the company, valued at approximately $1,496,493. The trade was a 35.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the sale, the director owned 36,497 shares of the company's stock, valued at approximately $2,221,207.42. This represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 11.82% of the company's stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently bought and sold shares of AFRM. Itau Unibanco Holding S.A. acquired a new stake in Affirm in the 4th quarter valued at $28,000. Allworth Financial LP grew its position in shares of Affirm by 63.7% in the first 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 period. Coppell Advisory Solutions LLC purchased a new stake in shares of Affirm during the fourth quarter worth about $40,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Affirm during the 4th quarter worth about $43,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Affirm by 640.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company's stock valued at $45,000 after buying an additional 640 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.