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

Affirm (NASDAQ:AFRM) had its target price reduced by Barclays from $50.00 to $41.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the company. Stephens lifted their target price on Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a report on Friday, February 9th. Royal Bank of Canada boosted their price target on Affirm from $26.00 to $50.00 and gave the company a sector perform rating in a report on Friday, February 9th. Wedbush restated an underperform rating and issued a $20.00 price target on shares of Affirm in a report on Friday, February 9th. Morgan Stanley lowered Affirm from an equal weight rating to an underweight rating and boosted their price target for the company from $15.00 to $20.00 in a report on Monday, December 18th. Finally, The Goldman Sachs Group boosted their price target on Affirm from $18.00 to $20.00 and gave the company a neutral rating in a report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of Hold and a consensus price target of $27.86.

Affirm Stock Performance

AFRM stock opened at $31.01 on Tuesday. The business’s 50-day moving average price is $36.11 and its two-hundred day moving average price is $34.50. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35. The firm has a market cap of $9.52 billion, a PE ratio of -12.45 and a beta of 3.57. Affirm has a 1-year low of $8.80 and a 1-year high of $52.48.

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

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’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 transaction of $319,001.64. Following the transaction, the director now owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affirm

Institutional investors have recently bought and sold shares of the business. Planned Solutions Inc. acquired a new position in Affirm during the fourth quarter worth approximately $25,000. Covestor Ltd acquired a new position in shares of Affirm in the first quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV grew its position in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Affirm in the fourth quarter valued at approximately $33,000. Finally, Global Wealth Strategies & Associates grew its position in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares during the last quarter. Institutional investors and hedge funds 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.