Affirm (NASDAQ:AFRM) Stock Price Target Cut by Cantor Fitzgerald

Affirm (NASDAQ:AFRM) had its price target dropped by Cantor Fitzgerald from $97.00 to $84.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s price target would indicate a potential upside of 23.33% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on AFRM. Wolfe Research reissued an “outperform” rating on shares of Affirm in a research report on Friday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Affirm in a report on Wednesday, September 9th. Piper Sandler reduced their price objective on Affirm from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday. Truist Financial lifted their price objective on Affirm from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Finally, Dbs Bank upgraded Affirm to a “moderate buy” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and an average target price of $95.96.

Affirm Price Performance

Shares of AFRM stock opened at $68.11 on Monday. Affirm has a 12 month low of $42.10 and a 12 month high of $90.44. The firm has a market cap of $22.98 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.77 and a beta of 3.74. The stock has a 50 day moving average of $72.54 and a 200-day moving average of $66.56. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.09. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.21 billion. Affirm had a net margin of 43.86% and a return on equity of 47.13%. The business’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, equities analysts predict that Affirm will post 1.89 EPS for the current year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 41,664 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. This trade represents a 21.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the sale, the chief accounting officer directly owned 188,711 shares in the company, valued at approximately $13,623,047.09. This represents a 12.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 280,118 shares of company stock valued at $22,223,307 over the last ninety days. Company insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Spyglass Capital Management LLC boosted its stake in shares of Affirm by 15.2% in the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company’s stock valued at $76,168,000 after purchasing an additional 218,745 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Affirm in the 2nd quarter worth about $75,121,000. Dimensional Fund Advisors LP grew its holdings in shares of Affirm by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock worth $72,100,000 after purchasing an additional 166,252 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Affirm by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company’s stock worth $71,829,000 after purchasing an additional 303,037 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Affirm by 8.8% during the 1st quarter. Swiss National Bank now owns 806,800 shares of the company’s stock worth $36,968,000 after purchasing an additional 65,000 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Company Profile