Affirm (NASDAQ:AFRM) Price Target Cut to $41.00 by Analysts at Barclays

Affirm (NASDAQ:AFRM) had its price objective decreased by Barclays from $50.00 to $41.00 in a research note published on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

AFRM has been the subject of several other reports. The Goldman Sachs Group increased their target price on shares of Affirm from $18.00 to $20.00 and gave the company a neutral rating in a research note on Friday, February 9th. Needham & Company LLC assumed coverage on Affirm in a report on Wednesday, April 3rd. They issued a hold rating on the stock. BMO Capital Markets upped their target price on Affirm from $44.00 to $47.00 and gave the company a market perform rating in a report on Monday, February 12th. Stephens lifted their price target on Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada upped their price objective on shares of Affirm from $26.00 to $50.00 and gave the company a sector perform rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $27.86.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $30.92 on Tuesday. Affirm has a 1 year low of $8.80 and a 1 year high of $52.48. The firm has a market cap of $9.49 billion, a P/E ratio of -12.42 and a beta of 3.58. The stock has a fifty day moving average price of $37.00 and a two-hundred day moving average price of $34.48. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The firm had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Research analysts forecast that Affirm will post -2.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the transaction, the director now directly owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.05% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently made changes to their positions in AFRM. Voloridge Investment Management LLC acquired a new stake in Affirm during the fourth quarter worth about $147,583,000. Norges Bank acquired a new position in Affirm in the fourth quarter valued at about $20,544,000. Vanguard Group Inc. boosted its holdings in shares of Affirm by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock worth $763,545,000 after acquiring an additional 1,883,050 shares in the last quarter. State Street Corp grew its position in Affirm by 96.6% during the 2nd quarter. State Street Corp now owns 3,571,814 shares of the company’s stock worth $64,507,000 after acquiring an additional 1,755,252 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Affirm by 38.2% during the first quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock worth $239,773,000 after purchasing an additional 1,432,202 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Company Profile

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.