Affirm (NASDAQ:AFRM) Given New $100.00 Price Target at Mizuho

Affirm (NASDAQ:AFRM) had its price objective hoisted by analysts at Mizuho from $95.00 to $100.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 57.43% from the company’s previous close.

A number of other brokerages have also issued reports on AFRM. Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a research report on Friday, March 27th. Oppenheimer restated an “outperform” rating and set a $87.00 target price on shares of Affirm in a research report on Friday, May 8th. Cantor Fitzgerald raised their target price on shares of Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. TD Cowen reiterated a “buy” rating on shares of Affirm in a report on Friday, February 6th. Finally, Morgan Stanley set a $79.00 price target on shares of Affirm and gave the company an “overweight” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $86.00.

Affirm Trading Down 2.9%

Shares of AFRM opened at $63.52 on Thursday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.41. The firm has a 50 day simple moving average of $54.01 and a 200-day simple moving average of $62.91. Affirm has a 1-year low of $42.10 and a 1-year high of $100.00. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 57.75, a price-to-earnings-growth ratio of 4.15 and a beta of 3.72.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. During the same period last year, the company posted $0.01 EPS. The company’s revenue was up 32.7% on a year-over-year basis. Equities analysts forecast that Affirm will post 1.13 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of Affirm 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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

Several hedge funds and other institutional investors have recently made changes to their positions in AFRM. Royal Bank of Canada lifted its holdings in shares of Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after acquiring an additional 3,892 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after acquiring an additional 8,014 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Affirm during the 1st quarter valued at $243,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Affirm by 18.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after acquiring an additional 427 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Affirm by 44.8% during the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after acquiring an additional 59,297 shares in the last quarter. Institutional investors and hedge funds 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.