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

Citizens Jmp upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a strong-buy rating in a report published on Friday,Zacks.com reports.

A number of other brokerages have also weighed in on AFRM. Deutsche Bank Aktiengesellschaft increased their target price on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $82.00 in a research report on Thursday. Bank of America upped their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Affirm presently has an average rating of “Moderate Buy” and an average price target of $60.94.

Affirm Price Performance

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

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data 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. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The firm had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the previous year, the firm earned ($0.57) EPS. As a group, equities research analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 of the company’s stock, valued at $2,989,858.85. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,300,851 shares of company stock valued at $84,875,518. 12.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several large investors have recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of Affirm in the 2nd quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in Affirm during the third quarter worth $29,000. Allspring Global Investments Holdings LLC raised its position 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 purchasing an additional 540 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings 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 worth $45,000 after purchasing an additional 732 shares during the period. 69.29% of the stock is currently owned by hedge funds and other 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.