Affirm (NASDAQ:AFRM) Price Target Raised to $74.00 at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its target price raised by research analysts at JPMorgan Chase & Co. from $56.00 to $74.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 2.21% from the company’s current price.

Several other research firms have also commented on AFRM. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Mizuho raised their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Wells Fargo & Company boosted their target price on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Bank of America raised their price target on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $53.73.

Affirm Stock Up 3.4 %

Shares of NASDAQ:AFRM opened at $72.40 on Monday. The firm has a market capitalization of $22.74 billion, a P/E ratio of -50.99 and a beta of 3.47. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock has a 50 day moving average price of $49.29 and a 200-day moving average price of $37.98. Affirm has a 52-week low of $22.25 and a 52-week high of $72.40.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the prior year, the company earned ($0.57) earnings per share. As a group, equities research analysts anticipate that Affirm will post -0.53 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 868,253 shares of company stock valued at $52,186,668 in the last 90 days. 12.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Wealth Partners LLC purchased a new position in shares of Affirm in the third quarter worth approximately $29,000. Ridgewood Investments LLC bought a new position in Affirm in the second quarter worth approximately $27,000. Advisors Asset Management Inc. boosted its stake in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after acquiring an additional 732 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.