Cantor Fitzgerald Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective raised by analysts at Cantor Fitzgerald from $61.00 to $80.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 19.30% from the company’s previous close.

AFRM has been the topic of several other research reports. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Thursday, February 26th. UBS Group set a $78.00 target price on Affirm in a research note on Friday, February 6th. Wall Street Zen lowered Affirm from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Compass Point reiterated a “buy” rating and issued a $68.00 price objective on shares of Affirm in a research note on Wednesday, February 18th. Finally, Bank of America started coverage on Affirm in a research report on Thursday, March 5th. They set a “buy” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.96.

Affirm Stock Performance

Shares of AFRM stock opened at $67.06 on Tuesday. Affirm has a 12 month low of $39.42 and a 12 month high of $100.00. The stock has a market cap of $22.34 billion, a PE ratio of 82.79, a price-to-earnings-growth ratio of 4.47 and a beta of 3.63. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The company’s fifty day moving average price is $49.72 and its 200-day moving average price is $63.82.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The company’s quarterly revenue was up 29.6% on a year-over-year basis. On average, equities analysts expect that Affirm will post 1.09 EPS for the current fiscal year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the sale, the director directly owned 38,076 shares of the company’s stock, valued at approximately $2,094,180. The trade was a 4.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several large investors have recently made changes to their positions in the company. Yousif Capital Management LLC increased its holdings in shares of Affirm by 5.1% in the third quarter. Yousif Capital Management LLC now owns 3,243 shares of the company’s stock worth $237,000 after purchasing an additional 158 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Affirm by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company’s stock worth $108,000 after purchasing an additional 171 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares during the last quarter. Mount Vernon Associates Inc. MD increased its holdings in shares of Affirm by 0.5% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock worth $3,195,000 after purchasing an additional 200 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Affirm by 63.6% in the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after purchasing an additional 203 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

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.