Affirm (NASDAQ:AFRM) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Thursday morning, MarketBeat reports. They currently have a $69.00 target price on the stock.

A number of other research firms have also recently issued reports on AFRM. UBS Group boosted their price objective on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, February 7th. William Blair began coverage on Affirm in a report on Wednesday, January 15th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. upped their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Compass Point upgraded Affirm from a “neutral” rating to a “buy” rating and upped their target price for the stock from $61.00 to $64.00 in a report on Wednesday. Finally, Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.76.

Affirm Price Performance

AFRM opened at $49.90 on Thursday. The business has a fifty day moving average of $60.68 and a 200 day moving average of $56.03. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a market cap of $15.87 billion, a P/E ratio of -76.77 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. As a group, sell-side analysts anticipate that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 6,541 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $184,535.64. This represents a 68.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now directly owns 38,997 shares in the company, valued at $1,785,282.66. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,301 shares of company stock valued at $3,920,543. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CIBC Asset Management Inc increased its holdings in shares of Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares during the period. Natixis Advisors LLC acquired a new position in shares of Affirm in the third quarter valued at about $759,000. Swiss National Bank increased its holdings in shares of Affirm by 0.9% in the third quarter. Swiss National Bank now owns 463,500 shares of the company’s stock valued at $18,920,000 after purchasing an additional 4,000 shares during the period. Quest Partners LLC acquired a new position in shares of Affirm in the third quarter valued at about $391,000. Finally, Caprock Group LLC increased its holdings in shares of Affirm by 8.7% in the third quarter. Caprock Group LLC now owns 8,470 shares of the company’s stock valued at $346,000 after purchasing an additional 680 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.