Affirm (NASDAQ:AFRM) Price Target Raised to $86.00

Affirm (NASDAQ:AFRM) had its price objective hoisted by BMO Capital Markets from $78.00 to $86.00 in a report published on Wednesday, Marketbeat reports. They currently have an outperform rating on the stock.

AFRM has been the topic of a number of other research reports. The Goldman Sachs Group upped their price target on shares of Affirm from $90.00 to $106.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Affirm in a research note on Wednesday, June 24th. JPMorgan Chase & Co. raised their price target on Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Citigroup upped their price target on Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Zacks Research raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.15.

Affirm Stock Performance

Shares of AFRM stock opened at $78.35 on Wednesday. The firm’s 50 day moving average is $75.99 and its 200 day moving average is $63.65. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $26.24 billion, a P/E ratio of 71.23, a PEG ratio of 3.19 and a beta of 3.71. Affirm has a 12 month low of $42.10 and a 12 month high of $100.00.

Insiders Place Their Bets

In related news, COO Michael Linford sold 100,000 shares of Affirm 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 transaction, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in AFRM. Ancora Advisors LLC purchased a new stake in shares of Affirm in the second quarter valued at $449,000. Globeflex Capital L P acquired a new position in Affirm during the second quarter worth $5,986,000. Bank of New York Mellon Corp acquired a new stake in shares of Affirm in the second quarter valued at $75,121,000. Handelsbanken Fonder AB lifted its position in shares of Affirm by 6.5% during the second quarter. Handelsbanken Fonder AB now owns 80,200 shares of the company’s stock worth $6,540,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in Affirm during the 2nd quarter worth $233,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm News Roundup

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Expanded merchant distribution: Airwallex is adding Affirm’s pay-over-time financing to its checkout platform, allowing eligible U.S. shoppers to use Affirm without merchants needing a separate integration. The arrangement could increase merchant adoption, transaction volume and consumer reach across Airwallex’s network in 35 countries. Airwallex Adds Affirm Pay-Over-Time Options for US Shoppers
• Positive Sentiment: Analyst and investor support: BMO Capital Markets reportedly expects significant appreciation in AFRM, while a separate analysis argues the shares could be about 7% undervalued based on Affirm’s growth outlook. Affirm was also highlighted among analysts’ top financial picks, supporting sentiment around its longer-term expansion potential. BMO Capital Markets Forecasts Strong Price Appreciation for Affirm Stock Affirm Holdings Could Be 7% Undervalued
• Neutral Sentiment: Upcoming investor conferences: CEO Max Levchin, CFO Rob O’Hare and investor-relations chief Zane Keller will attend the Goldman Sachs Communacopia + Technology Conference on September 8–9. Levchin’s fireside chat could provide updates on growth, credit performance and strategy, but the announcement itself contains no new financial guidance. Affirm to Participate in Upcoming Investor Conferences
• Negative Sentiment: Recent momentum and valuation concerns: AFRM had declined 10.41% over the prior month despite substantial multiyear gains. With a reported price-to-earnings ratio above 70, investors may remain sensitive to any slowdown in growth, profitability or consumer credit performance. Affirm Holdings Could Be 7% Undervalued

Affirm Company Profile

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.