Affirm (NASDAQ:AFRM) Price Target Cut to $84.00 by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut its price target on Affirm from $97 to $84 but maintained an “overweight” rating; the new target implies 23.33% upside from the current share price.
• Analyst sentiment remains broadly positive: Affirm has a “Moderate Buy” consensus rating and an average price target of $95.96, with 25 analysts rating it a Buy and seven a Hold.
• 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 rose 35.2% year over year.

Affirm (NASDAQ:AFRM - Get Free Report) had its price objective cut by research analysts at Cantor Fitzgerald from $97.00 to $84.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price target indicates a potential upside of 23.33% from the stock's current price.

A number of other analysts also recently issued reports on the stock. Bank of America restated a "buy" rating and set a $109.00 price target on shares of Affirm in a report on Friday. Piper Sandler decreased their price objective on Affirm from $115.00 to $105.00 and set an "overweight" rating on the stock in a report on Friday. The Goldman Sachs Group lowered their price objective on Affirm from $115.00 to $103.00 and set a "buy" rating for the company in a research report on Tuesday, October 13th. Barclays reissued a "sector outperform" rating on shares of Affirm in a research note on Friday. Finally, Susquehanna lifted their target price on Affirm from $105.00 to $110.00 and gave the company a "positive" rating in a research report on Friday, August 28th. One research 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, Affirm has a consensus rating of "Moderate Buy" and an average target price of $95.96.

Affirm Stock Performance

Shares of AFRM stock opened at $68.11 on Monday. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a twelve month low of $42.10 and a twelve month high of $90.44. The company's 50-day moving average price is $72.54 and its 200-day moving average price is $66.56. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 2.77 and a beta of 3.74.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results 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 for 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 quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. As a group, equities analysts predict that Affirm will post 1.89 earnings per share for the current year.

Insider Transactions at Affirm

In related news, CAO Siphelele Jiyane sold 26,980 shares of the firm's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This trade represents a 12.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $90.01, for a total value of $7,130,502.19. Following the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 280,118 shares of company stock valued at $22,223,307 in the last 90 days. Company insiders own 11.01% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. IFG Advisory LLC raised its stake in shares of Affirm by 860.0% in the 3rd quarter. IFG Advisory LLC now owns 1,440 shares of the company's stock valued at $100,000 after acquiring an additional 1,290 shares in the last quarter. Aberdeen Group plc boosted its position in Affirm by 276.5% during the third quarter. Aberdeen Group plc now owns 9,457 shares of the company's stock worth $655,000 after purchasing an additional 6,945 shares during the period. Allworth Financial LP boosted its position in Affirm by 5.8% during the third quarter. Allworth Financial LP now owns 3,153 shares of the company's stock worth $218,000 after purchasing an additional 173 shares during the period. Maryland State Retirement & Pension System grew its holdings in Affirm by 8.2% during the third quarter. Maryland State Retirement & Pension System now owns 17,035 shares of the company's stock valued at $1,179,000 after purchasing an additional 1,298 shares during the last quarter. Finally, Machina Capital S.A.S. acquired a new position in Affirm during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 69.29% of the company's stock.

About Affirm

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