Affirm (NASDAQ:AFRM) Raised to Overweight at Wells Fargo & Company

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

A number of other brokerages also recently commented on AFRM. Wedbush boosted their target price on shares of Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $43.00 to $45.00 and gave the company an overweight rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Affirm from $50.00 to $54.00 and gave the company an overweight rating in a research report on Monday, September 23rd. The Goldman Sachs Group reissued a buy rating and issued a $42.00 price target on shares of Affirm in a research report on Monday, June 24th. Finally, Susquehanna began coverage on shares of Affirm in a report on Friday, September 20th. They issued a positive rating and a $52.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $39.82.

Affirm Stock Up 12.1 %

AFRM stock opened at $47.08 on Friday. The company has a market cap of $14.65 billion, a price-to-earnings ratio of -28.02 and a beta of 3.50. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a 12 month low of $15.97 and a 12 month high of $52.48. The firm has a 50-day moving average of $36.84 and a two-hundred day moving average of $33.24.

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

Insider Activity

In other news, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,075 shares of company stock valued at $4,803,786. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Global Wealth Strategies & Associates boosted its holdings in shares of Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Affirm by 82.4% in the 2nd 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 period. ORG Partners LLC boosted its holdings in shares of Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares during the period. Myecfo LLC boosted its holdings in shares of Affirm by 5.0% in the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after buying an additional 589 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Affirm in the 4th quarter valued at about $33,000. 69.29% of the stock is owned by institutional investors and hedge funds.

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.