Affirm (NASDAQ:AFRM) Given New $80.00 Price Target at Truist Financial

Affirm (NASDAQ:AFRM) had its target price raised by Truist Financial from $75.00 to $80.00 in a research report sent to investors on Thursday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms have also commented on AFRM. TD Cowen reaffirmed a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Citigroup reaffirmed a “buy” rating on shares of Affirm in a research note on Wednesday, April 15th. Bank of America raised their price objective on shares of Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a research note on Friday, March 27th. Finally, Royal Bank Of Canada lifted their target price on shares of Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $86.20.

Affirm Trading Up 3.6%

Shares of NASDAQ:AFRM opened at $73.00 on Thursday. The stock has a market capitalization of $24.45 billion, a price-to-earnings ratio of 66.36, a PEG ratio of 4.12 and a beta of 3.72. Affirm has a 1-year low of $42.10 and a 1-year high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The company has a 50 day moving average price of $57.96 and a 200 day moving average price of $62.52.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. On average, research analysts anticipate that Affirm will post 1.23 EPS for the current fiscal year.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors and hedge funds have recently modified their holdings of AFRM. Assetmark Inc. lifted its stake in shares of Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Affirm in the 4th quarter valued at $26,000. Syntegra Private Wealth Group LLC acquired a new stake in shares of Affirm in the 1st quarter valued at $28,000. Triumph Capital Management acquired a new stake in shares of Affirm in the 3rd quarter valued at $31,000. Finally, CoreCap Advisors LLC lifted its stake in shares of Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after purchasing an additional 358 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.