Seaport Res Ptn Upgrades Affirm (NASDAQ:AFRM) to Hold

Affirm (NASDAQ:AFRM) was upgraded by research analysts at Seaport Res Ptn to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on AFRM. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 target price on shares of Affirm in a research report on Thursday, March 20th. The Goldman Sachs Group lowered their target price on shares of Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and boosted their price target for the company from $70.00 to $82.00 in a research note on Thursday, December 19th. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and upped their price objective for the company from $61.00 to $64.00 in a report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their price target on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.76.

Affirm Stock Performance

Affirm stock opened at $50.93 on Monday. The stock has a market cap of $16.20 billion, a PE ratio of -78.35 and a beta of 3.63. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The business’s 50-day moving average price is $60.54 and its two-hundred day moving average price is $56.32.

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

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the transaction, the director now directly owns 38,997 shares of the company’s stock, valued at $1,785,282.66. This represents a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. The trade was a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock worth $3,920,543 in the last quarter. 12.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. increased its stake in shares of Affirm by 356.5% during the 4th 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 stake in shares of Affirm during the 4th quarter worth approximately $33,000. Coppell Advisory Solutions LLC bought a new stake in shares of Affirm in the 4th quarter worth approximately $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Affirm in the fourth quarter valued at approximately $43,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.