Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Key Points

• Morgan Stanley raised Affirm’s price target from $79 to $80 while maintaining an “equal weight” rating, implying 4.33% upside from the prior close.
• Analyst sentiment is broadly positive: Affirm has a consensus “Moderate Buy” rating and an average price target of $93.62, with recent targets ranging from $82 to $100.
• Affirm shares closed at $76.68, down $1.26, with a market capitalization of $25.68 billion. The company also reported notable insider selling, including the COO’s sale of 100,000 shares under a pre-arranged trading plan.

Affirm (NASDAQ:AFRM - Get Free Report) had its price objective hoisted by equities research analysts at Morgan Stanley from $79.00 to $80.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price would indicate a potential upside of 4.33% from the stock's previous close.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Robert W. Baird raised their price objective on shares of Affirm from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. BMO Capital Markets raised their price objective on shares of Affirm from $78.00 to $86.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Sanford C. Bernstein started coverage on shares of Affirm in a research note on Tuesday, July 21st. They issued an "outperform" rating and a $100.00 price objective for the company. Finally, Truist Financial boosted their target price on shares of Affirm from $80.00 to $83.00 and gave the company a "buy" rating in a report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.62.

Affirm Stock Performance

NASDAQ AFRM traded down $1.26 during trading on Wednesday, hitting $76.68. 510,865 shares of the company's stock traded hands, compared to its average volume of 5,161,299. The stock has a market capitalization of $25.68 billion, a price-to-earnings ratio of 69.77, a PEG ratio of 3.11 and a beta of 3.71. Affirm has a 12-month low of $42.10 and a 12-month high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The business has a 50 day moving average of $77.18 and a 200-day moving average of $64.24.

Insider Activity

In other news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares of the company's stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AFRM. Royal Bank of Canada grew its position in Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company's stock worth $8,748,000 after buying an additional 3,892 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company's stock valued at $762,000 after acquiring an additional 8,014 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Affirm during the 1st quarter valued at about $243,000. EverSource Wealth Advisors LLC grew its holdings in shares of Affirm by 18.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company's stock worth $189,000 after purchasing an additional 427 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Affirm by 44.8% during the second quarter. First Trust Advisors LP now owns 191,525 shares of the company's stock worth $13,242,000 after purchasing an additional 59,297 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Affirm Company Profile

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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