Affirm (NASDAQ:AFRM) Upgraded to Neutral at Wedbush

Affirm (NASDAQ:AFRM) was upgraded by stock analysts at Wedbush from an “underperform” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. The brokerage presently has a $45.00 price target on the stock. Wedbush’s price objective points to a potential downside of 4.42% from the company’s previous close.

A number of other research firms have also recently issued reports on AFRM. JPMorgan Chase & Co. increased their price objective on shares of Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. The Goldman Sachs Group reissued a “buy” rating and set a $42.00 price objective on shares of Affirm in a research report on Monday, June 24th. Mizuho reissued an “outperform” rating and set a $65.00 price objective on shares of Affirm in a research report on Tuesday, August 27th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, JMP Securities started coverage on shares of Affirm in a research report on Friday, June 28th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Affirm presently has a consensus rating of “Hold” and an average price target of $40.87.

Affirm Stock Performance

Shares of AFRM opened at $47.08 on Monday. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $14.65 billion, a P/E ratio of -28.02 and a beta of 3.50. The firm’s fifty day simple moving average is $36.84 and its two-hundred day simple moving average is $33.24. Affirm has a 12 month low of $15.97 and a 12 month high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The business had revenue of $659.19 million for the quarter, compared to analysts’ expectations of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. As a group, analysts predict that Affirm will post -0.82 EPS for the current year.

Insider Transactions at Affirm

In other news, Director Christa S. Quarles sold 14,400 shares of the firm’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 transaction of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Christa S. Quarles sold 14,400 shares of Affirm 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 completion of the transaction, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 112,075 shares of company stock worth $4,803,786 in the last quarter. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the period. Capital World Investors boosted its holdings in Affirm by 0.4% in the 1st quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after purchasing an additional 77,050 shares during the period. Baillie Gifford & Co. boosted its holdings in Affirm by 4.2% in the 1st quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the period. Dragoneer Investment Group LLC bought a new position in Affirm in the 2nd quarter valued at $45,219,000. Finally, Bank of New York Mellon Corp boosted its holdings in Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares during the period. 69.29% of the stock is owned by institutional investors.

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.