Affirm (NASDAQ:AFRM) Upgraded by Wedbush to Neutral

Wedbush upgraded shares of Affirm (NASDAQ:AFRM) from an underperform rating to a neutral rating in a research report released on Monday morning, MarketBeat Ratings reports. Wedbush currently has $45.00 target price on the stock, up from their previous target price of $25.00.

AFRM has been the topic of several other reports. Needham & Company LLC reaffirmed a hold rating on shares of Affirm in a research report on Friday, September 6th. Barclays increased their price objective on Affirm from $50.00 to $54.00 and gave the company an overweight rating in a research report on Monday, September 23rd. BTIG Research upgraded shares of Affirm from a neutral rating to a buy rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada restated a sector perform rating and set a $46.00 price objective on shares of Affirm in a report on Friday, October 4th. Finally, JMP Securities started coverage on Affirm in a research report on Friday, June 28th. They set a market perform rating on the stock. Three analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has an average rating of Hold and an average target price of $41.50.

Affirm Stock Up 4.6 %

AFRM opened at $49.26 on Monday. The company has a market capitalization of $15.23 billion, a PE ratio of -22.09 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The business has a 50-day moving average of $37.33 and a 200-day moving average of $33.32.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The firm had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Equities research analysts forecast that Affirm will post -0.82 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 82,316 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares in the company, valued at approximately $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,075 shares of company stock valued at $4,803,786. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC purchased a new stake in shares of Affirm in the second quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Affirm in the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares in the last quarter. ORG Partners LLC increased its position in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its holdings in Affirm by 255.1% during the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after acquiring an additional 954 shares during the period. 69.29% of the stock is owned by institutional investors.

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.