Affirm (NASDAQ:AFRM) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Affirm (NASDAQ:AFRM) from an equal weight rating to an overweight rating in a research report report published on Friday, MarketBeat Ratings reports. Wells Fargo & Company currently has $52.00 target price on the stock, up from their prior target price of $40.00.

Several other research firms have also commented on AFRM. Bank of America lifted their price objective on shares of Affirm from $36.00 to $42.00 and gave the stock a buy rating in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed a sector perform rating and set a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Mizuho reaffirmed an outperform rating and set a $65.00 price objective on shares of Affirm in a research note on Tuesday, August 27th. BTIG Research upgraded Affirm from a neutral rating to a buy rating and set a $68.00 target price for the company in a research report on Tuesday, October 8th. Finally, JMP Securities initiated coverage on Affirm in a research report on Friday, June 28th. They set a market perform rating for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $41.50.

Affirm Trading Up 4.6 %

AFRM stock opened at $49.26 on Friday. The firm has a fifty day moving average price of $37.33 and a 200 day moving average price of $33.32. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. The firm has a market cap of $15.23 billion, a PE ratio of -22.09 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The firm had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. Sell-side analysts anticipate that Affirm will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. 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 can be accessed through the SEC website. In other Affirm news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. 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 can be accessed through the SEC website. Also, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was 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. Over the last ninety days, insiders sold 112,075 shares of company stock worth $4,803,786. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Large investors have recently modified their holdings of the business. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm during the fourth quarter worth about $33,000. ORG Wealth Partners LLC purchased a new stake in shares of Affirm during the third quarter worth about $29,000. Ridgewood Investments LLC purchased a new stake in shares of Affirm during the second quarter worth about $27,000. Global Wealth Strategies & Associates grew its stake in shares of Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted 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 buying an additional 540 shares during the last quarter. 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.