Citizens Jmp Upgrades Affirm (NASDAQ:AFRM) to “Strong-Buy”

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

Several other analysts have also recently commented on the company. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Bank of America boosted their target price on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. JMP Securities upgraded Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday. Finally, Barclays upped their price target on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and an average target price of $60.94.

Affirm Stock Up 4.2 %

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

Affirm (NASDAQ:AFRM) last issued its earnings results 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. The business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. Analysts anticipate that Affirm will post -0.53 EPS for the current year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $72.05, for a total transaction of $180,125.00. Following the completion of the transaction, the director now owns 41,497 shares in the company, valued at $2,989,858.85. This trade represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $72.08, for a total value of $477,818.32. Following the completion of the sale, the president now directly owns 160,601 shares of the company’s stock, valued at $11,576,120.08. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,300,851 shares of company stock worth $84,875,518 in the last quarter. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AFRM. Bank of Montreal Can increased its stake in shares of Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after buying an additional 187,790 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Affirm during the 3rd quarter valued at $1,419,000. Quest Partners LLC acquired a new stake in Affirm in the third quarter worth about $391,000. International Assets Investment Management LLC purchased a new stake in Affirm during the 3rd quarter worth approximately $731,000. Finally, Entropy Technologies LP acquired a new stake in Affirm during the 3rd quarter worth about $464,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.