Affirm (NASDAQ:AFRM) Upgraded at Citizens Jmp

Citizens Jmp upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

Several other equities analysts have also recently commented on the stock. JMP Securities upgraded shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research note on Friday. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $82.00 in a report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.94.

Affirm Stock Up 4.2 %

Shares of AFRM stock opened at $65.64 on Friday. The stock’s 50 day simple moving average is $57.45 and its 200 day simple moving average is $41.98. Affirm has a twelve month low of $22.25 and a twelve month high of $73.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of -46.23 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the prior year, the firm earned ($0.57) EPS. As a group, research analysts predict that Affirm will post -0.53 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Libor Michalek sold 100,000 shares of Affirm stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the sale, the president now directly owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,300,851 shares of company stock valued at $84,875,518. 12.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV grew its holdings in shares of Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after buying an additional 222 shares during the period. CIBC Asset Management Inc grew its stake in 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 acquiring an additional 233 shares during the period. Allspring Global Investments Holdings LLC increased 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 worth $36,000 after acquiring an additional 540 shares in the last quarter. Myecfo LLC raised its position in shares of Affirm by 5.0% during the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after purchasing an additional 589 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares in the last quarter. 69.29% of the stock is owned by 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.