Affirm (NASDAQ:AFRM) Raised to Buy at BTIG Research

BTIG Research upgraded shares of Affirm (NASDAQ:AFRM) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat reports. The brokerage currently has $68.00 price target on the stock.

Several other analysts have also issued reports on AFRM. JPMorgan Chase & Co. increased their target price on Affirm from $43.00 to $45.00 and gave the stock an overweight rating in a report on Tuesday, August 20th. Barclays raised their target price on shares of Affirm from $50.00 to $54.00 and gave the company an overweight rating in a report on Monday, September 23rd. Wedbush upped their price target on shares of Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a report on Thursday, August 29th. Bank of America lifted their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, August 29th. Finally, The Goldman Sachs Group reaffirmed a buy rating and issued a $42.00 target price on shares of Affirm in a report on Monday, June 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $39.82.

Affirm Stock Up 12.1 %

Affirm stock opened at $47.08 on Tuesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The company’s 50-day moving average is $36.84 and its 200-day moving average is $33.29. The firm has a market capitalization of $14.65 billion, a PE ratio of -28.02 and a beta of 3.50. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Sell-side analysts anticipate that Affirm will post -0.82 earnings per share for the current year.

Insider Activity

In related news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,075 shares of company stock valued at $4,803,786. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Large investors have recently added to or reduced their stakes in the business. Raleigh Capital Management Inc. acquired a new position in Affirm in the fourth quarter valued at approximately $33,000. ORG Wealth Partners LLC bought a new position in Affirm during the third quarter worth $29,000. Ridgewood Investments LLC bought a new position in Affirm during the second quarter worth $27,000. Global Wealth Strategies & Associates grew its holdings in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the period. Finally, Allspring Global Investments Holdings LLC increased 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 purchasing an additional 540 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.