Affirm (NASDAQ:AFRM) Given New $85.00 Price Target at Truist Financial

Affirm (NASDAQ:AFRM) had its target price boosted by analysts at Truist Financial from $83.00 to $85.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 14.44% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Bank of America boosted their price target on shares of Affirm from $93.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Royal Bank Of Canada lifted their target price on shares of Affirm from $80.00 to $96.00 and gave the stock a “sector perform” rating in a research report on Friday, August 28th. Morgan Stanley boosted their target price on Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Scotiabank started coverage on Affirm in a report on Wednesday. They issued a “sector outperform” rating and a $95.00 target price for the company. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Affirm in a research report on Friday, August 28th. Twenty-three analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.12.

Affirm Stock Up 0.2%

Shares of NASDAQ:AFRM traded up $0.18 during mid-day trading on Thursday, hitting $74.27. 1,144,159 shares of the company traded hands, compared to its average volume of 5,372,758. The stock has a market cap of $24.87 billion, a P/E ratio of 13.46, a P/E/G ratio of 2.90 and a beta of 3.61. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a 12-month low of $42.10 and a 12-month high of $93.20. The stock has a 50-day moving average price of $77.38 and a two-hundred day moving average price of $65.01.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. Affirm’s revenue was up 33.1% compared to the same quarter last year. On average, equities research analysts forecast that Affirm will post 1.85 earnings per share for the current year.

Insider Activity at Affirm

In other news, 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 transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors have recently added to or reduced their stakes in the business. Greenline Wealth Management LLC purchased a new stake in shares of Affirm during the 4th quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC purchased a new position in Affirm in the 1st quarter valued at approximately $28,000. Triumph Capital Management purchased a new position in Affirm in the 3rd quarter valued at approximately $31,000. Strive Financial Group LLC bought a new stake in Affirm during the 4th quarter valued at $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Affirm during the first quarter worth $34,000. 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.