Cantor Fitzgerald Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Key Points

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Affirm (NASDAQ:AFRM - Get Free Report) had its price target lifted by Cantor Fitzgerald from $61.00 to $80.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's price target points to a potential upside of 19.30% from the stock's current price.

Several other brokerages have also issued reports on AFRM. Bank of America began coverage on Affirm in a research note on Thursday, March 5th. They set a "buy" rating and a $82.00 price target for the company. Needham & Company LLC dropped their price target on Affirm from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Mizuho dropped their price target on Affirm from $114.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, February 9th. The Goldman Sachs Group lowered Affirm from a "buy" rating to a "hold" rating in a research note on Tuesday, February 24th. Finally, Susquehanna reaffirmed a "positive" rating and set a $100.00 price target on shares of Affirm in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Affirm currently has a consensus rating of "Moderate Buy" and an average price target of $83.96.

Affirm Trading Up 4.0%

Shares of AFRM stock opened at $67.06 on Tuesday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The business has a 50-day moving average price of $49.72 and a two-hundred day moving average price of $63.82. Affirm has a 12-month low of $39.42 and a 12-month high of $100.00. The firm has a market cap of $22.34 billion, a P/E ratio of 82.79, a price-to-earnings-growth ratio of 4.47 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company's revenue was up 29.6% compared to the same quarter last year. Equities analysts anticipate that Affirm will post 1.09 EPS for the current fiscal year.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the transaction, the director owned 38,076 shares in the company, valued at approximately $2,094,180. The trade was a 4.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in Affirm during the 3rd quarter valued at about $19,077,000. Resona Asset Management Co. Ltd. purchased a new position in Affirm during the 3rd quarter valued at about $6,036,000. Gateway Investment Advisers LLC purchased a new position in Affirm during the 3rd quarter valued at about $1,315,000. Envestnet Asset Management Inc. increased its holdings in Affirm by 26.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company's stock valued at $17,185,000 after purchasing an additional 48,734 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Affirm by 96.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,261,611 shares of the company's stock valued at $93,889,000 after purchasing an additional 618,988 shares during the period. Hedge funds and other 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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