Morgan Stanley Cuts Affirm (NASDAQ:AFRM) Price Target to $60.00

Affirm (NASDAQ:AFRM) had its price objective trimmed by Morgan Stanley from $65.00 to $60.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also issued reports on AFRM. UBS Group raised their price target on shares of Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. BMO Capital Markets restated an “outperform” rating and set a $69.00 target price on shares of Affirm in a research report on Thursday, March 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Friday, February 7th. The Goldman Sachs Group decreased their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, William Blair started coverage on Affirm in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Affirm Price Performance

Shares of AFRM opened at $54.26 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The company’s fifty day moving average price is $46.63 and its 200-day moving average price is $56.58. Affirm has a 1-year low of $22.25 and a 1-year high of $82.53. The firm has a market capitalization of $17.26 billion, a PE ratio of -83.47 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. During the same quarter in the prior year, the firm posted ($0.43) EPS. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities research analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now directly owns 38,997 shares of the company’s stock, valued at $1,785,282.66. The trade was a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith Rabois sold 16,089 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the transaction, the director now directly owns 29,343 shares of the company’s stock, valued at approximately $1,496,493. This represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,765 shares of company stock valued at $3,094,694 over the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of large investors have recently modified their holdings of AFRM. Hanseatic Management Services Inc. increased its stake in Affirm by 12.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after acquiring an additional 194 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Affirm by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock worth $2,219,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP raised its holdings in Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the period. HB Wealth Management LLC lifted its position in Affirm by 2.2% in the first quarter. HB Wealth Management LLC now owns 11,471 shares of the company’s stock valued at $518,000 after buying an additional 252 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in Affirm by 2.1% during the first quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock worth $622,000 after buying an additional 280 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.