Affirm (NASDAQ:AFRM) Stock Gets Price Target Cut from Morgan Stanley

Affirm (NASDAQ:AFRM) had its target price cut by investment analysts at Morgan Stanley from $82.00 to $79.00 in a report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley‘s price objective suggests a potential upside of 13.17% from the stock’s current price.

Several other analysts have also issued reports on the stock. Dbs Bank raised shares of Affirm to a “moderate buy” rating in a research report on Wednesday, September 30th. JPMorgan Chase & Co. lifted their price objective on shares of Affirm from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. The Goldman Sachs Group decreased their price objective on shares of Affirm from $115.00 to $103.00 and set a “buy” rating for the company in a research report on Tuesday, October 13th. Wolfe Research reiterated an “outperform” rating on shares of Affirm in a report on Friday, August 28th. Finally, Loop Capital initiated coverage on Affirm in a report on Wednesday, September 9th. They set a “buy” rating and a $105.00 price target for the company. Twenty-five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.41.

Affirm Stock Down 0.4%

Shares of NASDAQ:AFRM traded down $0.27 during trading on Monday, hitting $69.81. 1,039,282 shares of the company were exchanged, compared to its average volume of 5,129,604. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 2.81 and a beta of 3.82. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The firm has a fifty day moving average price of $73.26 and a two-hundred day moving average price of $71.45.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating 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 company 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 firm posted $0.20 EPS. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, research analysts anticipate that Affirm will post 1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 41,664 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the transaction, the insider directly owned 152,439 shares of the company’s stock, valued at $11,513,717.67. This represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 79,219 shares of Affirm stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares of the company’s stock, valued at $10,865,377.13. The trade was a 39.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 280,118 shares of company stock worth $22,223,307. Company insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in shares of Affirm by 3.7% during the third quarter. Signaturefd LLC now owns 7,587 shares of the company’s stock worth $525,000 after acquiring an additional 270 shares during the period. BG Investment Services LLC acquired a new position in shares of Affirm in the third quarter valued at approximately $1,316,000. Citizens Financial Group Inc. RI grew its position in shares of Affirm by 24.5% in the third quarter. Citizens Financial Group Inc. RI now owns 3,094 shares of the company’s stock valued at $214,000 after purchasing an additional 608 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of Affirm by 107.4% during the third quarter. Simplicity Wealth LLC now owns 15,134 shares of the company’s stock worth $1,048,000 after purchasing an additional 7,837 shares during the period. Finally, Gibbs Wealth Management boosted its stake in Affirm by 7.7% in the 3rd quarter. Gibbs Wealth Management now owns 8,131 shares of the company’s stock valued at $563,000 after purchasing an additional 580 shares during the period. 69.29% of the stock is owned by institutional investors.

Affirm Company Profile

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.