Affirm (NASDAQ:AFRM – Get Rating) had its price target dropped by Piper Sandler from $32.00 to $28.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Piper Sandler’s target price points to a potential upside of 36.32% from the company’s previous close.
Several other research analysts also recently issued reports on AFRM. Mizuho lowered their price target on shares of Affirm from $79.00 to $50.00 and set a “na” rating for the company in a report on Tuesday, May 17th. DA Davidson reduced their price objective on shares of Affirm from $75.00 to $50.00 in a research note on Friday, May 13th. Wedbush started coverage on shares of Affirm in a research note on Tuesday, June 7th. They issued an “underperform” rating and a $15.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Affirm from $140.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 23rd. Finally, Barclays reduced their price objective on shares of Affirm from $65.00 to $35.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has an average rating of “Hold” and an average target price of $65.06.
Shares of NASDAQ:AFRM opened at $20.54 on Wednesday. Affirm has a 12-month low of $13.64 and a 12-month high of $176.65. The stock has a market cap of $5.88 billion, a PE ratio of -8.67 and a beta of 3.03. The business has a 50 day moving average of $24.44 and a 200-day moving average of $46.60. The company has a quick ratio of 9.36, a current ratio of 9.36 and a debt-to-equity ratio of 1.59.
Affirm (NASDAQ:AFRM – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.35. Affirm had a negative net margin of 52.07% and a negative return on equity of 18.00%. The company had revenue of $354.80 million during the quarter, compared to the consensus estimate of $344.01 million. During the same period in the previous year, the business earned ($0.72) earnings per share. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. Equities research analysts expect that Affirm will post -2.38 earnings per share for the current year.
In other news, major shareholder Private Ltd Gic acquired 1,091,738 shares of the firm’s stock in a transaction dated Thursday, April 21st. The stock was purchased at an average price of $33.33 per share, for a total transaction of $36,387,627.54. Following the completion of the acquisition, the insider now directly owns 2,785,714 shares in the company, valued at approximately $92,847,847.62. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 2,107,799 shares of company stock valued at $68,998,013. Corporate insiders own 16.48% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its position in shares of Affirm by 275.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 375 shares of the company’s stock valued at $37,000 after buying an additional 275 shares during the last quarter. HM Payson & Co. boosted its position in shares of Affirm by 540.0% during the fourth quarter. HM Payson & Co. now owns 448 shares of the company’s stock valued at $45,000 after buying an additional 378 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Affirm during the fourth quarter valued at approximately $46,000. Pacer Advisors Inc. purchased a new position in shares of Affirm during the fourth quarter valued at approximately $56,000. Finally, UMB Bank N A MO boosted its position in shares of Affirm by 484.0% during the first quarter. UMB Bank N A MO now owns 584 shares of the company’s stock valued at $27,000 after buying an additional 484 shares during the last quarter. Hedge funds and other institutional investors own 58.34% of the company’s stock.
Affirm Company Profile (Get Rating)
Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company’s platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.