Affirm (NASDAQ:AFRM) Price Target Cut to $95.00 by Analysts at Mizuho

Affirm (NASDAQ:AFRM) had its price target cut by equities research analysts at Mizuho from $114.00 to $95.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 66.58% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Evercore restated an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. TD Cowen reissued a “buy” rating on shares of Affirm in a research report on Friday. Wolfe Research started coverage on shares of Affirm in a report on Tuesday, December 9th. They set a “peer perform” rating for the company. Truist Financial lowered their price target on shares of Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, Citigroup upgraded Affirm to a “strong-buy” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.67.

Affirm Stock Performance

Shares of AFRM opened at $57.03 on Monday. The company has a market cap of $18.82 billion, a PE ratio of 70.41, a price-to-earnings-growth ratio of 2.51 and a beta of 3.56. The firm has a 50-day moving average of $71.53 and a 200-day moving average of $74.29. Affirm has a one year low of $30.90 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. Affirm’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. As a group, equities analysts forecast that Affirm will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 711,256 shares of company stock worth $57,231,923 over the last ninety days. Insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. White Lighthouse Investment Management Inc. lifted its position in Affirm by 21.9% during the fourth quarter. White Lighthouse Investment Management Inc. now owns 7,111 shares of the company’s stock worth $529,000 after purchasing an additional 1,276 shares during the period. Steadview Capital Management LLC raised its position in shares of Affirm by 1,612.1% in the 4th quarter. Steadview Capital Management LLC now owns 227,705 shares of the company’s stock valued at $16,948,000 after buying an additional 214,405 shares in the last quarter. BloombergSen Inc. bought a new stake in shares of Affirm during the 4th quarter worth approximately $1,138,000. Global Retirement Partners LLC boosted its position in shares of Affirm by 118.5% during the 4th quarter. Global Retirement Partners LLC now owns 2,618 shares of the company’s stock worth $195,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in Affirm in the fourth quarter valued at approximately $517,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.