Affirm (NASDAQ:AFRM – Free Report) had its price target cut by JPMorgan Chase & Co. from $105.00 to $95.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.
A number of other research firms also recently issued reports on AFRM. Zacks Research upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. UBS Group boosted their price objective on shares of Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Affirm in a report on Monday. Citizens Jmp reaffirmed a “market outperform” rating and issued a $85.00 target price on shares of Affirm in a research report on Friday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Affirm in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.96.
Get Our Latest Stock Analysis on Affirm
Affirm Price Performance
Shares of Affirm stock opened at $68.11 on Friday. The business’s 50 day simple moving average is $72.54 and its 200 day simple moving average is $66.56. Affirm has a 52-week low of $42.10 and a 52-week high of $90.44. The firm has a market cap of $22.98 billion, a PE ratio of 11.82, a P/E/G ratio of 2.77 and a beta of 3.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80.
Affirm (NASDAQ:AFRM – Get Free Report) last released its earnings results on Thursday, November 5th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.38 by $0.09. Affirm had a return on equity of 47.13% and a net margin of 43.86%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. On average, analysts predict that Affirm will post 1.89 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Katherine Adkins sold 41,664 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the sale, the insider owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. This represents a 21.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the sale, the chief financial officer directly owned 2,734 shares of the company’s stock, valued at approximately $218,774.68. The trade was a 96.00% 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 280,118 shares of company stock valued at $22,223,307 in the last ninety days. 11.01% of the stock is owned by company insiders.
Hedge Funds Weigh In On Affirm
A number of institutional investors have recently added to or reduced their stakes in AFRM. Yousif Capital Management LLC increased its position in Affirm by 3.7% during the third quarter. Yousif Capital Management LLC now owns 3,914 shares of the company’s stock worth $271,000 after buying an additional 139 shares during the last quarter. Rhodes Investment Advisors Inc. ADV lifted its position in shares of Affirm by 1.3% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company’s stock valued at $788,000 after buying an additional 149 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Affirm by 5.9% in the third quarter. Brighton Jones LLC now owns 3,019 shares of the company’s stock valued at $209,000 after buying an additional 167 shares during the last quarter. Allworth Financial LP lifted its position in shares of Affirm by 5.8% in the third quarter. Allworth Financial LP now owns 3,153 shares of the company’s stock valued at $218,000 after buying an additional 173 shares during the last quarter. Finally, Mather Group LLC. boosted its stake in shares of Affirm by 52.9% during the 3rd quarter. Mather Group LLC. now owns 613 shares of the company’s stock worth $42,000 after acquiring an additional 212 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.
Affirm News Summary
Here are the key news stories impacting Affirm this week:
- Positive Sentiment: Affirm’s Q1 earnings-call discussion was characterized as signaling strong growth ahead, a potentially supportive outlook for investors. Affirm Earnings Call Signals Strong Growth Ahead
- Positive Sentiment: Citizens JMP reiterated its “Market Outperform” rating, while BMO Capital maintained a Buy rating. Citizens JMP Reiterates Market Outperform BMO Capital Remains a Buy
- Neutral Sentiment: UBS and RBC Capital kept Hold ratings, signaling a more cautious, wait-and-see stance. UBS Remains a Hold RBC Capital Maintains Hold
- Negative Sentiment: Several analysts cut price targets, including Cantor Fitzgerald ($97 to $84) and JPMorgan ($105 to $95). Both retained Overweight ratings, but the reductions may signal less confidence in near-term upside. Cantor Fitzgerald Ratings JPMorgan Ratings Piper Sandler, Barclays and Stephens also cut targets; their revised figures were not provided. Piper Sandler Target Cut Barclays Target Cut Stephens Target Cut
About Affirm
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