Morgan Stanley Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price objective hoisted by investment analysts at Morgan Stanley from $79.00 to $80.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 4.33% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on AFRM. Citigroup upped their price objective on Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Zacks Research raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Susquehanna increased their price target on shares of Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. Finally, TD Cowen lifted their price target on shares of Affirm from $90.00 to $117.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.62.

Affirm Price Performance

AFRM traded down $1.26 during trading on Wednesday, reaching $76.68. The stock had a trading volume of 510,865 shares, compared to its average volume of 5,161,299. The business has a 50-day moving average of $77.18 and a 200-day moving average of $64.24. Affirm has a one year low of $42.10 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The stock has a market cap of $25.68 billion, a PE ratio of 69.77, a PEG ratio of 3.11 and a beta of 3.71.

Insider Activity

In other news, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp grew its position in shares of Affirm by 63.6% during the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after purchasing an additional 203 shares in the last quarter. UMB Bank n.a. lifted its holdings in Affirm by 36.6% in the 4th quarter. UMB Bank n.a. now owns 783 shares of the company’s stock worth $58,000 after purchasing an additional 210 shares in the last quarter. Larson Financial Group LLC boosted its stake in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares during the period. Swiss Life Asset Management Ltd boosted its stake in Affirm by 1.1% in the 4th quarter. Swiss Life Asset Management Ltd now owns 22,296 shares of the company’s stock worth $1,659,000 after purchasing an additional 247 shares during the period. Finally, QRG Capital Management Inc. grew its holdings in Affirm by 3.6% during the 1st quarter. QRG Capital Management Inc. now owns 9,684 shares of the company’s stock valued at $444,000 after buying an additional 340 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other 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.