Affirm (NASDAQ:AFRM) Upgraded at JMP Securities

Affirm (NASDAQ:AFRM) was upgraded by investment analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $78.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 18.83% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Susquehanna raised their price objective on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. The Goldman Sachs Group lifted their price objective on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the company from $25.00 to $45.00 in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.94.

Affirm Trading Up 4.2 %

AFRM stock opened at $65.64 on Friday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a twelve month low of $22.25 and a twelve month high of $73.34. The company has a market cap of $20.61 billion, a P/E ratio of -46.23 and a beta of 3.66. The business has a fifty day moving average of $57.45 and a 200-day moving average of $41.90.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the previous year, the business posted ($0.57) EPS. As a group, equities research analysts expect that Affirm will post -0.53 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, insider Katherine Adkins sold 200,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the transaction, the insider now directly owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock valued at $84,875,518 in the last 90 days. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AFRM. Ridgewood Investments LLC bought a new position in shares of Affirm in the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in Affirm in the 3rd quarter valued at about $29,000. Allspring Global Investments Holdings LLC grew its holdings in Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the period. Advisors Asset Management Inc. increased its position in Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after buying an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

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.