Affirm (NASDAQ:AFRM) Given New $41.00 Price Target at Barclays

Affirm (NASDAQ:AFRM) had its target price cut by equities researchers at Barclays from $50.00 to $41.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 33.42% from the stock’s current price.

Several other research firms also recently weighed in on AFRM. Morgan Stanley downgraded Affirm from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $15.00 to $20.00 in a research report on Monday, December 18th. JPMorgan Chase & Co. lifted their price objective on Affirm from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada lifted their price objective on Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Wedbush reiterated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Finally, The Goldman Sachs Group lifted their price objective on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Affirm has an average rating of “Hold” and a consensus target price of $27.86.

Affirm Price Performance

AFRM traded down $0.33 during trading on Tuesday, hitting $30.73. The company’s stock had a trading volume of 3,933,611 shares, compared to its average volume of 9,764,409. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35. Affirm has a twelve month low of $8.80 and a twelve month high of $52.48. The business’s fifty day simple moving average is $37.25 and its 200 day simple moving average is $34.41. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of -12.34 and a beta of 3.58.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. The company had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. On average, equities research analysts forecast that Affirm will post -2.45 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RJA Asset Management LLC purchased a new stake in Affirm during the 1st quarter valued at approximately $14,808,000. Los Angeles Capital Management LLC purchased a new stake in Affirm during the 1st quarter valued at approximately $749,000. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Affirm during the 4th quarter worth approximately $16,927,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Affirm during the 4th quarter worth approximately $252,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

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.