Affirm (NASDAQ:AFRM) Given New $46.00 Price Target at BMO Capital Markets

Affirm (NASDAQ:AFRM) had its price objective lowered by investment analysts at BMO Capital Markets from $48.00 to $46.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 39.10% from the stock’s current price.

AFRM has been the subject of several other reports. Stephens lifted their target price on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. The Goldman Sachs Group lifted their target price on shares of Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Thursday. Royal Bank of Canada decreased their price target on shares of Affirm from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Wedbush reissued an “underperform” rating and set a $20.00 price target on shares of Affirm in a research note on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Affirm presently has a consensus rating of “Hold” and a consensus price target of $27.53.

Affirm Price Performance

Shares of Affirm stock traded down $1.74 on Friday, reaching $33.07. The stock had a trading volume of 3,554,840 shares, compared to its average volume of 9,139,701. Affirm has a 1 year low of $11.57 and a 1 year high of $52.48. The company has a market cap of $10.15 billion, a P/E ratio of -13.21 and a beta of 3.56. 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 business’s 50 day moving average is $34.54 and its two-hundred day moving average is $35.93.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. During the same period last year, the firm posted ($0.69) earnings per share. Affirm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts anticipate that Affirm will post -2.45 EPS for the current year.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the transaction, the director now owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in AFRM. Creative Financial Designs Inc. ADV increased its holdings in Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Global Wealth Strategies & Associates increased its holdings in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Affirm by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after acquiring an additional 480 shares in the last quarter. Planned Solutions Inc. purchased a new stake in Affirm in the 4th quarter worth approximately $25,000. Finally, Signaturefd LLC boosted its stake in Affirm by 9.0% in the 3rd quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock worth $136,000 after purchasing an additional 528 shares during the period. Hedge funds and other institutional investors 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.