BMO Capital Markets Boosts Affirm (NASDAQ:AFRM) Price Target to $86.00

Affirm (NASDAQ:AFRM) had its target price upped by equities research analysts at BMO Capital Markets from $78.00 to $86.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 12.11% from the company’s previous close.

Several other brokerages also recently weighed in on AFRM. Stephens increased their price target on shares of Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Susquehanna lifted their price objective on shares of Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research note on Thursday, June 25th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Finally, TD Cowen boosted their target price on shares of Affirm from $90.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.15.

Affirm Trading Up 1.5%

Shares of NASDAQ:AFRM opened at $76.71 on Wednesday. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm has a 52-week low of $42.10 and a 52-week high of $100.00. The stock has a market cap of $25.69 billion, a price-to-earnings ratio of 69.74, a PEG ratio of 3.07 and a beta of 3.71. The business has a 50-day moving average price of $75.36 and a 200-day moving average price of $63.49.

Insider Buying and Selling

In related news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of the company. Fifth Third Bancorp lifted its stake in shares of Affirm by 63.6% in the 4th quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after acquiring an additional 203 shares during the period. Rakuten Securities Inc. increased its stake in shares of Affirm by 1.3% during the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock worth $1,237,000 after acquiring an additional 206 shares during the period. UMB Bank n.a. increased its stake in shares of Affirm by 36.6% during the fourth quarter. UMB Bank n.a. now owns 783 shares of the company’s stock worth $58,000 after acquiring an additional 210 shares during the period. Larson Financial Group LLC raised its holdings in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in Affirm by 1.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 22,296 shares of the company’s stock worth $1,659,000 after purchasing an additional 247 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other 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.