Affirm (NASDAQ:AFRM) Price Target Raised to $90.00 at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its target price boosted by analysts at JPMorgan Chase & Co. from $80.00 to $90.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 12.55% from the stock’s previous close.

A number of other brokerages also recently commented on AFRM. Barclays began coverage on Affirm in a report on Wednesday. They issued an “overweight” rating and a $97.00 price target for the company. Truist Financial upped their target price on Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Morgan Stanley set a $79.00 target price on Affirm and gave the company an “overweight” rating in a research report on Sunday, May 10th. Mizuho raised their price target on shares of Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Finally, Citizens Jmp dropped their price target on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus price target of $89.46.

Affirm Stock Down 4.4%

Affirm stock traded down $3.66 during midday trading on Wednesday, hitting $79.96. 1,040,998 shares of the stock were exchanged, compared to its average volume of 5,697,045. Affirm has a 1 year low of $42.10 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The firm has a market cap of $26.78 billion, a P/E ratio of 72.79, a P/E/G ratio of 3.53 and a beta of 3.67. The company has a 50 day moving average price of $70.54 and a two-hundred day moving average price of $63.44.

Affirm (NASDAQ:AFRM) last announced its 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. The company had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company’s revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. On average, sell-side analysts predict that Affirm will post 1.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the transaction, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,000 shares of company stock worth $8,244,000 over the last three months. 11.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently made changes to their positions in AFRM. Greenline Wealth Management LLC bought a new stake in shares of Affirm in the 4th quarter worth approximately $26,000. Syntegra Private Wealth Group LLC bought a new position in Affirm during the 1st quarter worth $28,000. Triumph Capital Management acquired a new stake in Affirm in the third quarter worth $31,000. CoreCap Advisors LLC increased its position in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after buying an additional 358 shares during the period. Finally, Strive Financial Group LLC bought a new stake in Affirm in the fourth quarter valued at $33,000. 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.