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

Affirm (NASDAQ:AFRM) had its target price reduced by investment analysts at Mizuho from $114.00 to $95.00 in a research note issued on Monday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 59.26% from the stock’s previous close.

A number of other research analysts have also issued reports on AFRM. Royal Bank Of Canada reduced their target price on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Oppenheimer decreased their target price on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday. Evercore reissued an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Morgan Stanley upgraded Affirm from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $83.00 to $76.00 in a report on Tuesday, February 3rd. Finally, Citigroup upgraded Affirm to a “strong-buy” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Affirm Price Performance

AFRM stock opened at $59.65 on Monday. The stock’s 50 day moving average price is $71.16 and its 200 day moving average price is $74.18. The firm has a market cap of $19.69 billion, a P/E ratio of 73.64, a PEG ratio of 2.41 and a beta of 3.56. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. On average, sell-side analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The SEC filing for this sale provides additional information. Insiders sold a total of 711,256 shares of company stock worth $57,231,923 over the last ninety days. Corporate insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its holdings in shares of Affirm by 111.3% during the 3rd 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. Huntington National Bank raised its stake in shares of Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after purchasing an additional 336 shares during the period. Mather Group LLC. acquired a new position in shares of Affirm during the third quarter worth $29,000. SouthState Corp boosted its stake in shares of Affirm by 190.5% in the second quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after purchasing an additional 280 shares during the period. Finally, Triumph Capital Management acquired a new stake in Affirm during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

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.