Affirm (NASDAQ:AFRM) Price Target Cut to $71.00 by Analysts at Truist Financial

Affirm (NASDAQ:AFRM) had its target price lowered by Truist Financial from $85.00 to $71.00 in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also commented on AFRM. Susquehanna restated a “positive” rating and set a $100.00 price target on shares of Affirm in a research report on Friday, February 6th. Compass Point restated a “buy” rating and set a $68.00 target price on shares of Affirm in a research report on Wednesday. Mizuho lowered their price target on Affirm from $114.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. TD Cowen reiterated a “buy” rating on shares of Affirm in a research report on Friday, February 6th. Finally, Needham & Company LLC decreased their price objective on shares of Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Affirm Price Performance

Affirm stock opened at $51.09 on Friday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. Affirm has a one year low of $30.90 and a one year high of $100.00. The firm has a market capitalization of $17.02 billion, a P/E ratio of 63.07, a PEG ratio of 1.94 and a beta of 3.56. The business has a fifty day moving average price of $68.40 and a 200-day moving average price of $73.15.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, equities research analysts forecast that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer 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. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 711,256 shares of company stock valued at $57,231,923 in the last 90 days. 11.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several hedge funds have recently added to or reduced their stakes in AFRM. Assetmark Inc. boosted its position in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares during the period. Greenline Wealth Management LLC purchased a new stake in Affirm during the 4th quarter valued at about $26,000. Huntington National Bank grew its position in Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after acquiring an additional 336 shares during the last quarter. Mather Group LLC. purchased a new position in Affirm in the 3rd quarter worth approximately $29,000. Finally, SouthState Corp increased its stake in Affirm by 190.5% in the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares during the period. 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.