Truist Financial Raises Affirm (NASDAQ:AFRM) Price Target to $75.00

Key Points

• Truist raised its price target on Affirm from $71 to $75 and kept a "buy" rating, implying about a 19.31% upside from the stock's current price.
• The analyst consensus is a "Moderate Buy" with an average target of $83.76, while AFRM trades around $62.86 with a market cap of $20.94B and a high PE of 77.49.
• Affirm recently beat estimates, reporting $0.37 EPS vs. $0.28 expected and $1.12B revenue (up 29.6% year-over-year), signaling solid top- and bottom-line growth.

Affirm (NASDAQ:AFRM - Get Free Report) had its price objective upped by stock analysts at Truist Financial from $71.00 to $75.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 19.31% from the stock's current price.

Several other equities analysts also recently commented on AFRM. BTIG Research restated a "neutral" rating on shares of Affirm in a research report on Thursday, February 26th. UBS Group set a $78.00 target price on Affirm in a research report on Friday, February 6th. Morgan Stanley restated an "overweight" rating on shares of Affirm in a research report on Wednesday, March 4th. JPMorgan Chase & Co. cut their target price on Affirm from $94.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, February 6th. Finally, Compass Point restated a "buy" rating and set a $68.00 target price on shares of Affirm in a research report on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $83.76.

Affirm Stock Performance

Shares of AFRM stock traded down $0.12 during mid-day trading on Friday, reaching $62.86. The stock had a trading volume of 588,336 shares, compared to its average volume of 6,208,733. The firm's 50 day simple moving average is $50.28 and its 200 day simple moving average is $63.76. 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 has a one year low of $42.10 and a one year high of $100.00. The firm has a market cap of $20.94 billion, a PE ratio of 77.49, a P/E/G ratio of 4.64 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 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 company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the company earned $0.23 EPS. The company's quarterly revenue was up 29.6% on a year-over-year basis. On average, analysts forecast that Affirm will post 1.08 EPS for the current year.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company's stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently bought and sold shares of the business. Assetmark Inc. raised its position in Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Greenline Wealth Management LLC bought a new position in Affirm in the 4th quarter valued at $26,000. Mather Group LLC. bought a new position in Affirm in the 3rd quarter valued at $29,000. Triumph Capital Management bought a new position in Affirm in the 3rd quarter valued at $31,000. Finally, CoreCap Advisors LLC raised its position in Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock valued at $33,000 after purchasing an additional 358 shares during the last quarter. 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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