Affirm (NASDAQ:AFRM) Given New $110.00 Price Target at TD Cowen

Affirm (NASDAQ:AFRM) had its price objective cut by TD Cowen from $124.00 to $110.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Citigroup reiterated a “market outperform” rating on shares of Affirm in a research note on Friday, August 28th. Dbs Bank raised shares of Affirm to a “moderate buy” rating in a report on Wednesday, September 30th. Weiss Ratings upgraded Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 28th. JPMorgan Chase & Co. raised their price target on shares of Affirm from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Finally, Compass Point set a $100.00 target price on Affirm in a research note on Friday, July 17th. Twenty-four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $98.15.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $74.88 on Tuesday. The company has a 50 day simple moving average of $73.43 and a two-hundred day simple moving average of $68.73. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The company has a market capitalization of $25.27 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 3.06 and a beta of 3.82. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.20 EPS. Analysts expect that Affirm will post 1.87 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, COO Michael Linford sold 79,219 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the completion of the sale, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of Affirm stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer directly owned 188,711 shares in the company, valued at approximately $13,623,047.09. This represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 214,527 shares of company stock worth $16,974,716 over the last quarter. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Large investors have recently bought and sold shares of the stock. Congress Asset Management Co. boosted its stake in Affirm by 3.0% during the third quarter. Congress Asset Management Co. now owns 439,115 shares of the company’s stock worth $30,400,000 after acquiring an additional 12,645 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Affirm by 11.8% during the second quarter. QRG Capital Management Inc. now owns 10,829 shares of the company’s stock worth $883,000 after acquiring an additional 1,145 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of Affirm during the 2nd quarter valued at approximately $307,000. Tidal Investments LLC bought a new position in shares of Affirm during the 2nd quarter valued at approximately $1,097,000. Finally, RFG Advisory LLC grew its position in Affirm by 14.4% in the 2nd quarter. RFG Advisory LLC now owns 21,931 shares of the company’s stock valued at $1,788,000 after acquiring an additional 2,760 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.