Affirm (NASDAQ:AFRM) Given New $95.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered its Affirm price target from $105 to $95 but maintained an “overweight” rating, implying 39.48% upside from the prior close.
• Analyst sentiment remains positive overall: Affirm has a “Moderate Buy” consensus rating and an average price target of $95.96.
• In its latest quarter, Affirm reported EPS of $0.47, beating the $0.38 consensus, while revenue of $1.15 billion fell short of estimates but grew 35.2% year over year.

Affirm (NASDAQ:AFRM - Get Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from $105.00 to $95.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 39.48% from the company's previous close.

Other research analysts have also issued research reports about the stock. Citizens Jmp reiterated a "market outperform" rating and set a $85.00 price objective on shares of Affirm in a research note on Friday. Morgan Stanley cut their price target on shares of Affirm from $82.00 to $79.00 and set an "equal weight" rating on the stock in a report on Monday, October 26th. Royal Bank Of Canada decreased their price objective on Affirm from $96.00 to $83.00 and set a "sector perform" rating for the company in a report on Friday. Barclays reissued a "sector outperform" rating on shares of Affirm in a research report on Friday. Finally, Zacks Research upgraded Affirm from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $95.96.

Affirm Price Performance

NASDAQ AFRM opened at $68.11 on Friday. The company has a market cap of $22.98 billion, a PE ratio of 11.82, a P/E/G ratio of 2.77 and a beta of 3.74. The firm's 50 day moving average price is $72.54 and its 200-day moving average price is $66.56. 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.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.09. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.21 billion. Affirm had a net margin of 43.86% and a return on equity of 47.13%. Affirm's revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts forecast that Affirm will post 1.89 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, CFO Robert O'Hare sold 65,591 shares of Affirm stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the completion of the sale, the chief financial officer owned 2,734 shares of the company's stock, valued at approximately $218,774.68. The trade was a 96.00% decrease in their position. The sale was disclosed in a legal 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, CAO Siphelele Jiyane sold 26,980 shares of the business's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the sale, the chief accounting officer owned 188,711 shares in the company, valued at approximately $13,623,047.09. The trade was a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 280,118 shares of company stock worth $22,223,307. Insiders own 11.01% of the company's stock.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Spyglass Capital Management LLC grew its stake in shares of Affirm by 15.2% in the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock valued at $76,168,000 after buying an additional 218,745 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Affirm during the 2nd quarter valued at approximately $75,121,000. Dimensional Fund Advisors LP raised its position in shares of Affirm by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock valued at $72,100,000 after buying an additional 166,252 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Affirm by 23.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company's stock valued at $71,829,000 after acquiring an additional 303,037 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Affirm by 8.8% in the first quarter. Swiss National Bank now owns 806,800 shares of the company's stock valued at $36,968,000 after acquiring an additional 65,000 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

About Affirm

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.