Affirm (NASDAQ:AFRM) Upgraded by Compass Point to “Neutral” Rating

Compass Point upgraded shares of Affirm (NASDAQ:AFRM) from a sell rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has $61.00 price target on the stock, up from their prior price target of $20.00.

Several other equities research analysts have also weighed in on AFRM. Deutsche Bank Aktiengesellschaft lifted their price objective on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Wednesday, January 22nd. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Finally, Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.88.

Affirm Stock Performance

Shares of Affirm stock opened at $57.63 on Tuesday. The business’s fifty day simple moving average is $63.82 and its 200 day simple moving average is $47.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 12 month low of $22.25 and a 12 month high of $73.34. The firm has a market capitalization of $18.10 billion, a P/E ratio of -40.58 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the firm earned ($0.57) EPS. As a group, analysts anticipate that Affirm will post -0.62 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, President Libor Michalek sold 6,629 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $72.08, for a total transaction of $477,818.32. Following the transaction, the president now directly owns 160,601 shares in the company, valued at $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at $184,535.64. This trade represents a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,323,478 shares of company stock valued at $86,285,371 in the last quarter. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Geneos Wealth Management Inc. lifted its stake in Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm in the fourth quarter worth about $33,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the 3rd quarter valued at about $29,000. Valley National Advisers Inc. purchased a new stake in Affirm during the 4th quarter valued at about $61,000. Finally, Advisors Asset Management Inc. grew its position in Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the last quarter. Institutional investors 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.