Affirm (NASDAQ:AFRM) Price Target Raised to $55.00 at Morgan Stanley

Affirm (NASDAQ:AFRM) had its price objective upped by Morgan Stanley from $39.00 to $55.00 in a research note published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Affirm from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Bank of America lifted their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $82.00 in a report on Thursday, December 19th. Mizuho lifted their price objective on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $62.88.

Affirm Stock Up 4.5 %

Affirm stock opened at $57.63 on Tuesday. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of -40.58 and a beta of 3.67. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a 50 day simple moving average of $63.82 and a 200 day simple moving average of $47.66.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the previous year, the business earned ($0.57) EPS. On average, analysts predict that Affirm will post -0.62 earnings per share for the current year.

Insider Transactions at Affirm

In related news, COO Michael Linford sold 400,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith Rabois sold 16,086 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the completion of the transaction, the director now directly owns 93,694 shares of the company’s stock, valued at approximately $5,839,010.08. The trade was a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,323,478 shares of company stock worth $86,285,371. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after buying an additional 187,790 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Affirm during the third quarter valued at approximately $1,419,000. Quest Partners LLC bought a new position in shares of Affirm during the third quarter valued at approximately $391,000. International Assets Investment Management LLC bought a new position in shares of Affirm during the third quarter valued at approximately $731,000. Finally, Entropy Technologies LP bought a new position in shares of Affirm during the third quarter valued at approximately $464,000. 69.29% of the stock is owned by institutional investors.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.