Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, Truist Financial Analyst Says

Affirm (NASDAQ:AFRM) had its price target hoisted by stock analysts at Truist Financial from $80.00 to $83.00 in a report issued on Friday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 18.18% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on AFRM. Needham & Company LLC increased their price objective on shares of Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Susquehanna boosted their target price on Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. UBS Group lifted their price objective on Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Oppenheimer reiterated an “outperform” rating and issued a $87.00 price objective on shares of Affirm in a report on Friday, May 8th. Finally, Bank of America lifted their target price on Affirm from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $92.74.

Affirm Stock Down 1.4%

NASDAQ AFRM opened at $70.23 on Friday. Affirm has a 52 week low of $42.10 and a 52 week high of $100.00. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The business’s fifty day simple moving average is $73.92 and its 200-day simple moving average is $63.76. The firm has a market cap of $23.52 billion, a PE ratio of 63.85, a P/E/G ratio of 2.86 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. During the same quarter in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities analysts anticipate that Affirm will post 1.23 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares in the company, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. 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. Insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Affirm by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after purchasing an additional 428,138 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after buying an additional 104,239 shares during the last quarter. Capital World Investors boosted its stake in shares of Affirm by 2.4% during the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock worth $1,615,953,000 after buying an additional 507,224 shares during the period. Durable Capital Partners LP boosted its stake in shares of Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after buying an additional 808,455 shares during the period. Finally, State Street Corp grew its holdings in shares of Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares during the last quarter. Hedge funds and other institutional investors 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.