Affirm (NASDAQ:AFRM) Rating Increased to Outperform at JMP Securities

Affirm (NASDAQ:AFRM) was upgraded by equities researchers at JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm presently has a $78.00 target price on the stock. JMP Securities’ price objective suggests a potential upside of 23.81% from the stock’s previous close.

A number of other research analysts also recently issued reports on AFRM. Mizuho boosted their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Bank of America increased their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $82.00 in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Stock Down 0.5 %

Affirm stock opened at $63.00 on Friday. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of -44.37 and a beta of 3.66. The firm’s fifty day moving average price is $57.08 and its two-hundred day moving average price is $41.65.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the previous year, the business earned ($0.57) earnings per share. On average, equities research analysts predict that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $72.05, for a total transaction of $180,125.00. Following the sale, the director now owns 41,497 shares of the company’s stock, valued at $2,989,858.85. This trade represents a 5.68 % 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 three months. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Affirm during the second quarter worth about $27,000. ORG Wealth Partners LLC acquired a new stake in Affirm during the third quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its stake in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during 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.