Affirm (NASDAQ:AFRM) Upgraded by Citizens Jmp to “Strong-Buy” Rating

Affirm (NASDAQ:AFRM) was upgraded by equities research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Several other analysts also recently commented on AFRM. Bank of America upped their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their price target on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, Barclays increased their price objective on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Stock Performance

Shares of Affirm stock opened at $65.64 on Friday. The company has a 50 day moving average price of $57.45 and a 200 day moving average price of $41.90. The firm has a market capitalization of $20.61 billion, a P/E ratio of -46.23 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34.

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

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the transaction, the director now directly owns 41,497 shares in the company, valued at approximately $2,989,858.85. This represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,300,851 shares of company stock worth $84,875,518 in the last quarter. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors have recently added to or reduced their stakes in AFRM. KBC Group NV grew its position in Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Affirm by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after purchasing an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares in the last quarter. Myecfo LLC increased its stake in Affirm by 5.0% in the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after purchasing an additional 589 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

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.