TD Cowen Has Lowered Expectations for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price target decreased by equities researchers at TD Cowen from $115.00 to $110.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 34.08% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Evercore ISI reissued an “outperform” rating on shares of Affirm in a report on Tuesday, December 16th. Wells Fargo & Company began coverage on Affirm in a research report on Tuesday, October 21st. They set an “overweight” rating and a $89.00 price objective for the company. Morgan Stanley decreased their target price on Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, The Goldman Sachs Group reduced their price target on shares of Affirm from $105.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Affirm Stock Performance

Affirm stock traded down $1.01 during mid-day trading on Thursday, reaching $82.04. 1,832,197 shares of the stock traded hands, compared to its average volume of 4,129,853. Affirm has a 12-month low of $30.90 and a 12-month high of $100.00. The business’s 50-day moving average is $71.82 and its 200-day moving average is $73.92. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. The stock has a market capitalization of $27.08 billion, a PE ratio of 122.53, a price-to-earnings-growth ratio of 3.74 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The business had revenue of $933.34 million during the quarter, compared to the consensus estimate of $881.83 million. During the same period in the previous year, the company posted ($0.31) EPS. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. As a group, sell-side analysts predict that Affirm will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. This represents a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 711,256 shares of company stock worth $57,231,923. Insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently modified their holdings of the stock. Wedmont Private Capital lifted its holdings in shares of Affirm by 10.4% in the 4th quarter. Wedmont Private Capital now owns 10,093 shares of the company’s stock worth $751,000 after buying an additional 952 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Affirm by 17.6% in the 4th quarter. Nordea Investment Management AB now owns 27,470 shares of the company’s stock valued at $2,065,000 after buying an additional 4,107 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Affirm by 10.1% in the 4th quarter. GAMMA Investing LLC now owns 5,340 shares of the company’s stock worth $397,000 after buying an additional 490 shares during the last quarter. Triumph Capital Management bought a new position in shares of Affirm during the 3rd quarter worth approximately $31,000. Finally, Allworth Financial LP raised its stake in shares of Affirm by 53.1% during the 3rd quarter. Allworth Financial LP now owns 1,223 shares of the company’s stock worth $89,000 after acquiring an additional 424 shares in 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.