Affirm (NASDAQ:AFRM) Price Target Cut to $95.00 by Analysts at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its price objective cut by JPMorgan Chase & Co. from $105.00 to $95.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on Affirm from $115.00 to $103.00 and set a “buy” rating on the stock in a research note on Tuesday, October 13th. Piper Sandler lowered their price objective on Affirm from $115.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday. Zacks Research upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 27th. Citizens Jmp reissued a “market outperform” rating and issued a $85.00 target price on shares of Affirm in a report on Friday. Finally, Morgan Stanley cut their target price on Affirm from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.96.

Affirm Price Performance

Shares of AFRM opened at $68.11 on Friday. The stock has a market cap of $22.98 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 2.77 and a beta of 3.74. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44. The firm’s 50-day simple moving average is $72.54 and its two-hundred day simple moving average is $66.56.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 5th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Affirm had a net margin of 43.86% and a return on equity of 47.13%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. Analysts anticipate that Affirm will post 1.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, 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 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 position. The transaction was disclosed in a 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. Also, CFO Robert O’Hare sold 65,591 shares of Affirm stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the sale, the chief financial officer owned 2,734 shares of the company’s stock, valued at $218,774.68. The trade was a 96.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 280,118 shares of company stock valued at $22,223,307. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFG Advisory LLC grew its holdings in shares of Affirm by 860.0% in the third quarter. IFG Advisory LLC now owns 1,440 shares of the company’s stock worth $100,000 after acquiring an additional 1,290 shares during the period. Aberdeen Group plc lifted its holdings in Affirm by 276.5% in the third quarter. Aberdeen Group plc now owns 9,457 shares of the company’s stock valued at $655,000 after acquiring an additional 6,945 shares during the period. Allworth Financial LP lifted its holdings in Affirm by 5.8% in the third quarter. Allworth Financial LP now owns 3,153 shares of the company’s stock valued at $218,000 after acquiring an additional 173 shares during the period. Maryland State Retirement & Pension System lifted its holdings in Affirm by 8.2% in the third quarter. Maryland State Retirement & Pension System now owns 17,035 shares of the company’s stock valued at $1,179,000 after acquiring an additional 1,298 shares during the period. Finally, Machina Capital S.A.S. bought a new position in Affirm in the third quarter valued at about $208,000. Institutional investors own 69.29% of the company’s stock.

Key Headlines Impacting Affirm

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Affirm’s Q1 earnings-call discussion was characterized as signaling strong growth ahead, a potentially supportive outlook for investors. Affirm Earnings Call Signals Strong Growth Ahead
• Positive Sentiment: Citizens JMP reiterated its “Market Outperform” rating, while BMO Capital maintained a Buy rating. Citizens JMP Reiterates Market Outperform BMO Capital Remains a Buy
• Neutral Sentiment: UBS and RBC Capital kept Hold ratings, signaling a more cautious, wait-and-see stance. UBS Remains a Hold RBC Capital Maintains Hold
• Negative Sentiment: Several analysts cut price targets, including Cantor Fitzgerald ($97 to $84) and JPMorgan ($105 to $95). Both retained Overweight ratings, but the reductions may signal less confidence in near-term upside. Cantor Fitzgerald Ratings JPMorgan Ratings Piper Sandler, Barclays and Stephens also cut targets; their revised figures were not provided. Piper Sandler Target Cut Barclays Target Cut Stephens Target Cut

About Affirm