JPMorgan Chase & Co. Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Affirm (NASDAQ:AFRM - Get Free Report) had its price target hoisted by analysts at JPMorgan Chase & Co. from $69.00 to $84.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 10.65% from the company's previous close.

Several other equities research analysts also recently commented on AFRM. Citigroup restated an "overweight" rating on shares of Affirm in a research note on Monday, June 30th. Rothschild & Co Redburn initiated coverage on shares of Affirm in a research report on Friday, August 1st. They set a "neutral" rating and a $74.00 price target on the stock. Redburn Atlantic upgraded shares of Affirm to a "hold" rating in a research report on Friday, August 1st. Wall Street Zen downgraded shares of Affirm from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Truist Financial boosted their price objective on Affirm from $58.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Twelve investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.74.

Affirm Stock Performance

AFRM stock traded down $2.33 on Tuesday, reaching $75.92. 1,062,110 shares of the company were exchanged, compared to its average volume of 7,054,892. Affirm has a 12 month low of $28.47 and a 12 month high of $82.53. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The stock's fifty day moving average price is $68.16 and its 200 day moving average price is $58.53. The firm has a market capitalization of $24.49 billion, a PE ratio of -361.28, a PEG ratio of 2.92 and a beta of 3.63.

Insider Activity

In other news, CFO Robert O'hare sold 19,802 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $70.03, for a total transaction of $1,386,734.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Christa S. Quarles sold 754 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total value of $50,842.22. Following the transaction, the director owned 137,241 shares in the company, valued at $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,114 shares of company stock worth $11,825,169. 11.82% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AFRM. Geneos Wealth Management Inc. boosted its stake in shares of Affirm by 4,415.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 6,819 shares of the company's stock worth $471,000 after buying an additional 6,668 shares during the last quarter. Rakuten Securities Inc. lifted its position in shares of Affirm by 172.5% in the second quarter. Rakuten Securities Inc. now owns 7,468 shares of the company's stock valued at $516,000 after acquiring an additional 4,727 shares in the last quarter. Corient Private Wealth LLC increased its holdings in shares of Affirm by 100.5% in the second quarter. Corient Private Wealth LLC now owns 16,841 shares of the company's stock worth $1,164,000 after purchasing an additional 8,440 shares during the last quarter. Sender Co & Partners Inc. bought a new stake in Affirm during the second quarter worth approximately $245,000. Finally, Captrust Financial Advisors increased its stake in Affirm by 6.4% during the second quarter. Captrust Financial Advisors now owns 27,472 shares of the company's stock worth $1,899,000 after acquiring an additional 1,641 shares during the last quarter. Institutional investors own 69.29% of the company's stock.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.