Robert W. Baird Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price target hoisted by equities research analysts at Robert W. Baird from $70.00 to $82.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 0.09% from the stock’s current price.

AFRM has been the topic of several other reports. Stephens lifted their price target on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a report on Wednesday, June 24th. Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Bank of America boosted their target price on shares of Affirm from $82.00 to $88.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Cantor Fitzgerald upped their target price on shares of Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus price target of $90.81.

Affirm Stock Performance

Shares of AFRM opened at $81.93 on Tuesday. The company has a 50-day simple moving average of $72.02 and a two-hundred day simple moving average of $63.60. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The firm has a market capitalization of $27.44 billion, a PE ratio of 74.48, a price-to-earnings-growth ratio of 3.37 and a beta of 3.67. Affirm has a one year low of $42.10 and a one year high of $100.00.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, analysts anticipate that Affirm will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors have recently bought and sold shares of AFRM. Handelsbanken Fonder AB grew its position in Affirm by 6.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 80,200 shares of the company’s stock valued at $6,540,000 after purchasing an additional 4,900 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Affirm in the second quarter worth about $233,000. PensionDanmark Pensionsforsikringsaktieselskab raised its holdings in Affirm by 9.8% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 30,310 shares of the company’s stock worth $2,472,000 after buying an additional 2,700 shares during the last quarter. Balefire LLC bought a new position in shares of Affirm in the second quarter worth approximately $248,000. Finally, GAMMA Investing LLC lifted its stake in shares of Affirm by 25.3% in the second quarter. GAMMA Investing LLC now owns 5,609 shares of the company’s stock worth $457,000 after buying an additional 1,134 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.