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

Affirm (NASDAQ:AFRM) had its price target reduced by TD Cowen from $124.00 to $110.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 46.06% from the company’s current price.

Several other equities analysts have also issued reports on the company. Wells Fargo & Company boosted their price target on Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Needham & Company LLC set a $85.00 price objective on shares of Affirm in a research report on Wednesday, September 16th. Barclays lifted their price objective on shares of Affirm from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Compass Point set a $100.00 target price on shares of Affirm in a research report on Friday, July 17th. Finally, Robert W. Baird increased their target price on shares of Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $98.15.

Affirm Stock Performance

AFRM stock opened at $75.31 on Tuesday. The stock has a 50-day moving average price of $73.53 and a 200-day moving average price of $68.95. Affirm has a 1-year low of $42.10 and a 1-year high of $90.44. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The firm has a market cap of $25.41 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 3.06 and a beta of 3.82.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue was up 33.1% compared to the same quarter last year. As a group, equities research analysts expect that Affirm will post 1.87 earnings per share for the current year.

Insider Activity

In related news, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the completion of the sale, the chief operating officer owned 120,713 shares of the company’s stock, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the sale, the chief accounting officer owned 188,711 shares of the company’s stock, valued at $13,623,047.09. This trade represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 214,527 shares of company stock worth $16,974,716 over the last quarter. 11.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AFRM. Rhodes Investment Advisors Inc. ADV raised its holdings in shares of Affirm by 1.3% in the 3rd quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company’s stock worth $788,000 after acquiring an additional 149 shares during the last quarter. Congress Asset Management Co. boosted its stake in Affirm by 3.0% during the 3rd quarter. Congress Asset Management Co. now owns 439,115 shares of the company’s stock valued at $30,400,000 after purchasing an additional 12,645 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Affirm by 11.8% during the 2nd quarter. QRG Capital Management Inc. now owns 10,829 shares of the company’s stock valued at $883,000 after purchasing an additional 1,145 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Affirm during the 2nd quarter worth approximately $307,000. Finally, Tidal Investments LLC bought a new stake in Affirm during the 2nd quarter worth approximately $1,097,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.