Brokerages Set Affirm Holdings, Inc. (NASDAQ:AFRM) Target Price at $86.20

Affirm Holdings, Inc. (NASDAQ:AFRM) has been given an average recommendation of “Moderate Buy” by the twenty-nine ratings firms that are presently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $86.20.

A number of equities research analysts have recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $87.00 price target on shares of Affirm in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Stephens lifted their price target on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $79.00 price target on Affirm and gave the company an “overweight” rating in a report on Sunday, May 10th.

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director owned 36,076 shares in the company, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AFRM. Norges Bank acquired a new position in Affirm in the fourth quarter worth approximately $281,961,000. Invesco Ltd. grew its position in Affirm by 294.2% in the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after buying an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Affirm by 11,042.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after buying an additional 2,141,881 shares during the last quarter. Atreides Management LP grew its position in Affirm by 543.3% in the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after buying an additional 1,670,429 shares during the last quarter. Finally, State Street Corp grew its position in Affirm by 26.7% in the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Up 3.9%

NASDAQ:AFRM opened at $74.69 on Friday. The company has a market capitalization of $25.01 billion, a price-to-earnings ratio of 67.90, a price-to-earnings-growth ratio of 4.14 and a beta of 3.70. Affirm has a one year low of $42.10 and a one year high of $100.00. The stock has a 50-day simple moving average of $64.10 and a 200 day simple moving average of $62.41. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) 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 firm had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. During the same quarter last year, the company posted $0.01 earnings per share. Affirm’s revenue was up 32.7% on a year-over-year basis. Sell-side analysts predict that Affirm will post 1.25 EPS for the current fiscal year.

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.