Affirm (NASDAQ:AFRM) Stock Gets Price Target Trim from Cantor Fitzgerald

Affirm (NASDAQ:AFRM) had its price target reduced by Cantor Fitzgerald from $97.00 to $84.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently issued reports on AFRM. BMO Capital Markets reissued an “outperform” rating on shares of Affirm in a research report on Wednesday, September 9th. Citizens Jmp reaffirmed a “market outperform” rating and set a $85.00 price target on shares of Affirm in a research report on Friday, November 6th. Weiss Ratings raised shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. Wolfe Research reiterated an “outperform” rating on shares of Affirm in a research note on Friday, August 28th. Finally, Loop Capital initiated coverage on shares of Affirm in a report on Wednesday, September 9th. They issued a “buy” rating and a $105.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.96.

Affirm Trading Up 2.9%

Shares of NASDAQ:AFRM opened at $67.84 on Monday. Affirm has a 12-month low of $42.10 and a 12-month high of $90.44. The business has a 50 day moving average of $72.14 and a 200-day moving average of $66.48. The company has a quick ratio of 11.80, a current ratio of 12.50 and a debt-to-equity ratio of 1.81. The stock has a market cap of $22.89 billion, a PE ratio of 11.78, a P/E/G ratio of 2.67 and a beta of 3.74.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 5th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.21 billion. Affirm had a return on equity of 43.38% and a net margin of 43.86%. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. As a group, equities research analysts forecast that Affirm will post 1.89 earnings per share for the current year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’Hare sold 65,591 shares of Affirm stock in a transaction on 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 transaction, the chief financial officer directly owned 2,734 shares of the company’s stock, valued at $218,774.68. The trade was a 96.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction on 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 sale, the insider owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. The trade was a 21.46% 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. Insiders sold 280,118 shares of company stock valued at $22,223,307 over the last 90 days. 10.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. increased its holdings in Affirm by 386.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 51,844 shares of the company’s stock valued at $4,228,000 after buying an additional 41,187 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Affirm in the 1st quarter valued at approximately $935,000. Dimensional Fund Advisors LP raised its position in shares of Affirm by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock valued at $72,100,000 after buying an additional 166,252 shares in the last quarter. Nykredit A S acquired a new position in shares of Affirm in the 2nd quarter valued at approximately $7,170,000. Finally, Royal Bank of Canada lifted its holdings in shares of Affirm by 8.4% during the 1st quarter. Royal Bank of Canada now owns 318,783 shares of the company’s stock worth $14,607,000 after acquiring an additional 24,583 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc. operates a financial technology platform that enables consumers to pay for purchases over time. Its services are offered at participating merchants’ checkout pages and through the Affirm app, where eligible customers can review payment options and manage purchases. The company’s products include installment loans with terms that vary by purchase and eligibility, as well as the Affirm Card, which lets users access Affirm payment options for eligible transactions. Affirm also provides merchants with payment and commerce tools designed to support checkout and customer purchases.