TD Cowen Cuts Affirm (NASDAQ:AFRM) Price Target to $110.00

Affirm (NASDAQ:AFRM) had its price target decreased by TD Cowen from $115.00 to $110.00 in a research report released on Thursday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other research analysts also recently issued reports on AFRM. The Goldman Sachs Group dropped their target price on shares of Affirm from $105.00 to $94.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Rothschild & Co Redburn upgraded shares of Affirm from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $74.00 to $101.00 in a report on Monday, October 6th. Wall Street Zen downgraded Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Affirm in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Affirm Trading Up 0.2%

NASDAQ AFRM opened at $81.80 on Thursday. Affirm has a 12 month low of $30.90 and a 12 month high of $100.00. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock’s fifty day moving average price is $72.28 and its 200-day moving average price is $74.17. The stock has a market cap of $27.00 billion, a P/E ratio of 122.09, a P/E/G ratio of 3.71 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million during the quarter, compared to analyst estimates of $881.83 million. During the same quarter in the previous year, the firm earned ($0.31) EPS. Affirm’s quarterly revenue was up 33.6% compared to the same quarter last year. As a group, equities analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 711,256 shares of company stock valued at $57,231,923 in the last ninety days. 11.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Affirm by 121.7% during the 4th quarter. SG Americas Securities LLC now owns 475,141 shares of the company’s stock worth $35,365,000 after buying an additional 260,792 shares during the period. Wedmont Private Capital raised its holdings in Affirm by 10.4% in the 4th quarter. Wedmont Private Capital now owns 10,093 shares of the company’s stock worth $751,000 after acquiring an additional 952 shares during the period. Nordea Investment Management AB lifted its position in Affirm by 17.6% during the 4th quarter. Nordea Investment Management AB now owns 27,470 shares of the company’s stock worth $2,065,000 after acquiring an additional 4,107 shares during the last quarter. GAMMA Investing LLC lifted its position in Affirm by 10.1% during the 4th quarter. GAMMA Investing LLC now owns 5,340 shares of the company’s stock worth $397,000 after acquiring an additional 490 shares during the last quarter. Finally, Triumph Capital Management bought a new stake in Affirm during the third quarter valued at about $31,000. 69.29% of the stock is currently owned by 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.