Bank of America Raises Affirm (NASDAQ:AFRM) Price Target to $88.00

Key Points

• Bank of America raised its price target on Affirm from $82 to $88 and reiterated a buy rating, implying about 37.48% upside from the stock’s current price.
• Affirm’s stock was trading at $64.01 on Monday, with a 52-week range of $42.10 to $100.00 and a market capitalization of $21.32 billion.
• In its latest quarterly results, Affirm reported $0.30 EPS, beating estimates, while revenue rose 32.7% year over year to $943.95 million; analysts now expect $1.08 EPS for the full year.

Affirm (NASDAQ:AFRM - Get Free Report) had its target price boosted by stock analysts at Bank of America from $82.00 to $88.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 37.48% from the stock's current price.

AFRM has been the subject of a number of other reports. BTIG Research reissued a "neutral" rating on shares of Affirm in a research report on Thursday, February 26th. Citizens Jmp reduced their price target on shares of Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a research report on Friday, April 17th. TD Cowen reissued a "buy" rating on shares of Affirm in a research report on Friday, February 6th. Stephens boosted their price target on shares of Affirm from $55.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Compass Point reissued a "buy" rating and issued a $68.00 price target on shares of Affirm in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.64.

Affirm Price Performance

Affirm stock opened at $64.01 on Monday. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. The firm has a 50 day moving average price of $52.66 and a 200 day moving average price of $63.16. The company has a market capitalization of $21.32 billion, a PE ratio of 58.19, a price-to-earnings-growth ratio of 4.47 and a beta of 3.72.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.57%. The company's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Research analysts expect that Affirm will post 1.08 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the transaction, the director directly owned 38,076 shares in the company, valued at approximately $2,094,180. This represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company's stock.

Institutional Trading of Affirm

Several large investors have recently modified their holdings of AFRM. Assetmark Inc. lifted its stake in shares of Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company's stock valued at $25,000 after buying an additional 178 shares during the period. Greenline Wealth Management LLC purchased a new stake in Affirm during the 4th quarter worth $26,000. Triumph Capital Management purchased a new stake in Affirm during the 3rd quarter worth $31,000. CoreCap Advisors LLC increased its stake in Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock worth $33,000 after buying an additional 358 shares during the period. Finally, Strive Financial Group LLC acquired a new position in Affirm during the 4th quarter worth $33,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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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