Affirm (NASDAQ:AFRM) PT Raised to $50.00

Affirm (NASDAQ:AFRM) had its target price lifted by investment analysts at Barclays from $41.00 to $50.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 13.77% from the stock’s current price.

AFRM has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. JMP Securities assumed coverage on Affirm in a research note on Friday, June 28th. They set a “market perform” rating on the stock. BTIG Research initiated coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Thursday. Finally, Royal Bank of Canada increased their price objective on shares of Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a research report on Thursday. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $34.32.

Affirm Stock Up 5.5 %

Shares of NASDAQ:AFRM traded up $2.29 during trading on Friday, reaching $43.95. The stock had a trading volume of 9,990,654 shares, compared to its average volume of 8,397,244. The firm’s 50-day simple moving average is $29.15 and its 200 day simple moving average is $32.38. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm has a one year low of $15.97 and a one year high of $52.48. The company has a market capitalization of $13.59 billion, a P/E ratio of -19.92 and a beta of 3.45.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.89, for a total value of $277,259.64. Following the sale, the director now owns 73,623 shares in the company, valued at approximately $2,200,591.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 13.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affirm

A number of large investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in Affirm in the 2nd quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm during the fourth quarter worth about $33,000. Global Wealth Strategies & Associates raised its position in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. Finally, ORG Partners LLC boosted its holdings in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the last quarter. Institutional investors and hedge funds 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.