Citizens Jmp Cuts Affirm (NASDAQ:AFRM) Price Target to $85.00

Key Points

• Citizens Jmp cut its price target for Affirm from $105 to $85 while keeping a "market outperform" rating, with the new target implying about a 35.92% upside from the prior close.
• The analyst consensus is a Moderate Buy with an average target of $84.17 and a breakdown of 1 Strong Buy, 19 Buy and 8 Hold ratings.
• Affirm recently opened at $62.54 with a $20.83 billion market cap; it posted an EPS beat ($0.37 vs. $0.28) and 29.6% revenue growth last quarter, but faces mixed outlooks including a forecasted -$0.18 EPS for the current fiscal year and a high PE of 78.28 and beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) had its price target decreased by equities research analysts at Citizens Jmp from $105.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price points to a potential upside of 35.92% from the company's previous close.

A number of other equities analysts also recently issued reports on AFRM. Morgan Stanley reissued an "overweight" rating on shares of Affirm in a research report on Wednesday, March 4th. Mizuho lowered their price objective on shares of Affirm from $114.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, February 9th. Compass Point reiterated a "buy" rating and set a $68.00 target price on shares of Affirm in a report on Wednesday, February 18th. BTIG Research reissued a "neutral" rating on shares of Affirm in a research report on Thursday, February 26th. Finally, TD Cowen restated a "buy" rating on shares of Affirm in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.17.

Affirm Stock Performance

Affirm stock opened at $62.54 on Friday. The company has a market cap of $20.83 billion, a PE ratio of 78.28, a price-to-earnings-growth ratio of 4.12 and a beta of 3.63. Affirm has a twelve month low of $39.42 and a twelve month high of $100.00. The company's 50-day moving average price is $49.39 and its 200-day moving average price is $64.11. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58.

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 analysts' consensus estimates 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 period last year, the company earned $0.23 EPS. Affirm's quarterly revenue was up 29.6% compared to the same quarter last year. On average, equities research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Federated Hermes Inc. acquired a new stake in Affirm in the 3rd quarter valued at about $19,077,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Affirm during the third quarter worth approximately $6,036,000. Gateway Investment Advisers LLC purchased a new stake in shares of Affirm during the 3rd quarter worth approximately $1,315,000. Envestnet Asset Management Inc. grew its holdings in shares of Affirm by 26.1% during the third quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company's stock worth $17,185,000 after purchasing an additional 48,734 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Affirm by 96.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,261,611 shares of the company's stock worth $93,889,000 after buying an additional 618,988 shares during the period. Institutional investors and hedge funds own 69.29% of the company's stock.

About Affirm

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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