Affirm (NASDAQ:AFRM) Price Target Raised to $86.00 at BMO Capital Markets

Key Points

• BMO Capital Markets raised Affirm’s price target from $78 to $86 while maintaining an “outperform” rating, implying 12.11% upside from the previous close.
• Analyst sentiment remains generally positive: Affirm has a consensus rating of “Moderate Buy” and an average price target of $93.15, above BMO’s revised target.
• Affirm shares opened at $76.71, with a market capitalization of $25.69 billion; COO Michael Linford recently sold 100,000 shares for approximately $8 million under a pre-arranged trading plan.

Affirm (NASDAQ:AFRM - Get Free Report) had its price objective increased by BMO Capital Markets from $78.00 to $86.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' price target would indicate a potential upside of 12.11% from the stock's previous close.

AFRM has been the subject of several other research reports. Robert W. Baird upped their price target on shares of Affirm from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a "hold (c-)" rating on shares of Affirm in a report on Wednesday, June 24th. BTIG Research reissued a "neutral" rating on shares of Affirm in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Finally, Oppenheimer restated an "outperform" rating and issued a $87.00 price target on shares of Affirm in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.15.

Affirm Price Performance

Shares of AFRM opened at $76.71 on Wednesday. The company has a market capitalization of $25.69 billion, a P/E ratio of 69.74, a price-to-earnings-growth ratio of 3.07 and a beta of 3.71. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm has a twelve month low of $42.10 and a twelve month high of $100.00. The firm has a 50 day moving average of $75.36 and a 200 day moving average of $63.49.

Insider Buying and Selling

In other news, COO Michael Linford sold 100,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

A number of large investors have recently modified their holdings of the business. Greenline Wealth Management LLC purchased a new position in shares of Affirm in the 4th quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in Affirm during the 3rd quarter valued at approximately $31,000. Strive Financial Group LLC acquired a new position in Affirm during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC raised its holdings in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company's stock worth $36,000 after buying an additional 213 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in shares of Affirm by 2,381.0% during the fourth quarter. Bogart Wealth LLC now owns 521 shares of the company's stock worth $39,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.

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