Affirm (NASDAQ:AFRM) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Affirm (NASDAQ:AFRM – Free Report) from a hold rating to a buy rating in a report released on Saturday morning.

AFRM has been the subject of several other research reports. Bank of America boosted their target price on shares of Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, November 7th. JMP Securities boosted their target price on shares of Affirm from $75.00 to $105.00 and gave the stock a “market outperform” rating in a report on Friday, August 29th. Truist Financial decreased their price objective on shares of Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Mizuho raised their price target on shares of Affirm from $70.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group lowered their price objective on Affirm from $105.00 to $94.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.57.

View Our Latest Report on AFRM

Affirm Stock Performance

AFRM opened at $65.66 on Friday. The stock’s 50 day simple moving average is $70.85 and its 200 day simple moving average is $71.91. The stock has a market cap of $21.67 billion, a P/E ratio of 98.00, a P/E/G ratio of 3.03 and a beta of 3.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. Affirm has a 1-year low of $30.90 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period last year, the company earned ($0.31) EPS. As a group, equities analysts anticipate that Affirm will post -0.18 EPS for the current fiscal year.

Insider Transactions at Affirm

In other news, CEO Max R. Levchin sold 651,713 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $89.27, for a total value of $58,178,419.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert O’hare sold 8,189 shares of Affirm stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total value of $573,230.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $95,760. This trade represents a 85.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Large investors have recently bought and sold shares of the company. Assetmark Inc. increased its position in shares of Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after purchasing an additional 336 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Affirm in the 3rd quarter valued at approximately $29,000. SouthState Corp increased its stake in Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Finally, Blume Capital Management Inc. raised its stake in shares of Affirm by 468.8% in the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock valued at $31,000 after purchasing an additional 375 shares during the period. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

(Get Free Report)

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.

Read More