Affirm (NASDAQ:AFRM) Lifted to “Buy” at BTIG Research

BTIG Research upgraded shares of Affirm (NASDAQ:AFRM) from a neutral rating to a buy rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. BTIG Research currently has $68.00 price objective on the stock.

AFRM has been the topic of several other research reports. Needham & Company LLC reaffirmed a hold rating on shares of Affirm in a report on Friday, September 6th. JMP Securities started coverage on shares of Affirm in a research report on Friday, June 28th. They set a market perform rating for the company. Susquehanna assumed coverage on shares of Affirm in a report on Friday, September 20th. They issued a positive rating and a $52.00 price target on the stock. The Goldman Sachs Group reaffirmed a buy rating and set a $42.00 price objective on shares of Affirm in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on Affirm from $43.00 to $45.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Affirm has an average rating of Hold and a consensus price target of $38.13.

Affirm Trading Down 2.9 %

Shares of Affirm stock opened at $42.01 on Tuesday. The company’s 50-day moving average price is $36.41 and its 200-day moving average price is $33.22. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a 12-month low of $15.97 and a 12-month high of $52.48. The company has a market cap of $12.99 billion, a price-to-earnings ratio of -18.84 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The business had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. On average, equities analysts expect that Affirm will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the sale, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the transaction, the director now owns 64,348 shares in the company, valued at $1,730,961.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,075 shares of company stock worth $4,803,786. 13.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors and hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in Affirm in the second quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in Affirm in the 4th quarter worth approximately $33,000. Global Wealth Strategies & Associates lifted its position in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the last quarter. Finally, ORG Partners LLC increased its holdings in shares of Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after purchasing an additional 551 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.