JPMorgan Chase & Co. Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its target price raised by JPMorgan Chase & Co. from $80.00 to $90.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on AFRM. Stephens boosted their target price on Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Citizens Jmp cut their target price on Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a research report on Friday, April 17th. BMO Capital Markets began coverage on shares of Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Susquehanna upped their price target on Affirm from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.46.

Affirm Trading Down 2.8%

Shares of NASDAQ:AFRM opened at $81.28 on Wednesday. Affirm has a 52 week low of $42.10 and a 52 week high of $100.00. The company’s 50 day moving average is $70.86 and its two-hundred day moving average is $63.47. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The company has a market cap of $27.22 billion, a PE ratio of 73.89, a P/E/G ratio of 3.44 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The business 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 company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. Equities analysts predict that Affirm will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 104,000 shares of company stock worth $8,244,000. Insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Mount Vernon Associates Inc. MD grew its holdings in Affirm by 0.5% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock worth $3,195,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp raised its position in Affirm by 63.6% in the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after acquiring an additional 203 shares in the last quarter. Rakuten Securities Inc. lifted its stake in Affirm by 1.3% during the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock valued at $1,237,000 after purchasing an additional 206 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Affirm by 36.6% during the 4th quarter. UMB Bank n.a. now owns 783 shares of the company’s stock valued at $58,000 after acquiring an additional 210 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. 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.