TD Cowen Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Key Points

• TD Cowen raised its price target on Affirm from $90 to $117 and kept a buy rating, implying about 37% upside from the current share price.
• Other analysts have also been mostly positive, with recent target boosts from Citigroup, UBS, and Needham; MarketBeat says Affirm now has a Moderate Buy consensus and an average target price of $88.48.
• Affirm’s stock was trading around $85.17 on Tuesday after slipping 0.7%, while the company’s latest earnings beat EPS estimates with $0.30 per share and revenue rose 32.7% year over year.

Affirm (NASDAQ:AFRM - Get Free Report) had its price target upped by analysts at TD Cowen from $90.00 to $117.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price objective would indicate a potential upside of 37.37% from the stock's current price.

Other equities research analysts also recently issued reports about the company. UBS Group lifted their target price on Affirm from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Citigroup increased their price target on Affirm from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Zacks Research downgraded shares of Affirm from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lifted their price objective on shares of Affirm from $77.00 to $80.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Finally, Needham & Company LLC boosted their target price on shares of Affirm from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Affirm has a consensus rating of "Moderate Buy" and an average target price of $88.48.

Affirm Trading Down 0.7%

AFRM traded down $0.61 during trading on Tuesday, reaching $85.17. 340,477 shares of the stock traded hands, compared to its average volume of 5,705,224. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock's 50-day moving average is $70.14 and its 200 day moving average is $63.36. Affirm has a 12 month low of $42.10 and a 12 month high of $100.00. The stock has a market capitalization of $28.52 billion, a PE ratio of 77.27, a P/E/G ratio of 3.48 and a beta of 3.67.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the company posted $0.01 EPS. Equities analysts anticipate that Affirm will post 1.24 earnings per share for the current year.

Insider Activity at Affirm

In other news, COO Michael Linford sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares of the company's stock, valued at $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 104,000 shares of company stock worth $8,244,000. Corporate insiders own 11.01% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AFRM. Versant Capital Management Inc increased its position in shares of Affirm by 34.7% during the second quarter. Versant Capital Management Inc now owns 4,652 shares of the company's stock worth $379,000 after acquiring an additional 1,199 shares in the last quarter. CX Institutional raised its holdings in shares of Affirm by 2,724.3% in the 2nd quarter. CX Institutional now owns 1,045 shares of the company's stock worth $85,000 after acquiring an additional 1,008 shares during the last quarter. Parallel Advisors LLC lifted its position in Affirm by 11.9% in the 1st quarter. Parallel Advisors LLC now owns 4,497 shares of the company's stock valued at $206,000 after acquiring an additional 480 shares in the last quarter. NewEdge Advisors LLC lifted its position in Affirm by 25.4% in the 1st quarter. NewEdge Advisors LLC now owns 29,160 shares of the company's stock valued at $1,336,000 after acquiring an additional 5,914 shares in the last quarter. Finally, Spyglass Capital Management LLC boosted its stake in Affirm by 15.2% during the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock valued at $76,168,000 after purchasing an additional 218,745 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

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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