Truist Financial Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM - Get Free Report) had its price target raised by equities research analysts at Truist Financial from $58.00 to $72.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 4.50% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Barclays raised their price objective on shares of Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. The Goldman Sachs Group raised their price objective on shares of Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Compass Point raised shares of Affirm from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $61.00 to $64.00 in a research note on Wednesday, March 19th. Royal Bank Of Canada raised their target price on shares of Affirm from $70.00 to $75.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company decreased their target price on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Nine research 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.71.

Affirm Stock Performance

AFRM traded down $0.57 on Thursday, reaching $68.90. The company had a trading volume of 4,207,993 shares, compared to its average volume of 8,313,660. The stock has a 50-day moving average price of $59.72 and a 200-day moving average price of $56.58. Affirm has a 1 year low of $22.25 and a 1 year high of $82.53. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $22.23 billion, a PE ratio of -328.10, a P/E/G ratio of 2.33 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating 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 2.07% and a negative return on equity of 2.22%. The business's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) earnings per share. As a group, research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Christa S. Quarles sold 754 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total value of $50,842.22. Following the completion of the sale, the director owned 137,241 shares of the company's stock, valued at approximately $9,254,160.63. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares of the company's stock, valued at $2,221,207.42. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,247 shares of company stock worth $6,422,823. 11.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently modified their holdings of the stock. Avantax Advisory Services Inc. bought a new stake in shares of Affirm during the 4th quarter valued at about $340,000. Natixis Advisors LLC grew its position in shares of Affirm by 4.3% during the 4th quarter. Natixis Advisors LLC now owns 19,403 shares of the company's stock valued at $1,182,000 after buying an additional 808 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Affirm by 640.0% during 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 during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of Affirm during the 4th quarter valued at about $228,000. Finally, Xponance Inc. boosted its stake in Affirm by 34.8% during the 4th quarter. Xponance Inc. now owns 12,456 shares of the company's stock valued at $759,000 after purchasing an additional 3,216 shares during the period. Institutional investors own 69.29% of the company's stock.

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.