Affirm (NASDAQ:AFRM) Coverage Initiated by Analysts at Susquehanna

Stock analysts at Susquehanna assumed coverage on shares of Affirm (NASDAQ:AFRM) in a report released on Friday, Briefing.com reports. The firm set a “positive” rating and a $52.00 price target on the stock. Susquehanna’s price objective indicates a potential upside of 15.61% from the company’s current price.

A number of other equities analysts also recently commented on the company. Wedbush increased their price objective on Affirm from $20.00 to $25.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Bank of America raised their price objective on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Royal Bank of Canada increased their price target on shares of Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, August 29th. Finally, Mizuho restated an “outperform” rating and set a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Affirm presently has an average rating of “Hold” and an average price target of $35.31.

Affirm Stock Performance

AFRM opened at $44.98 on Friday. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The firm has a market cap of $13.90 billion, a PE ratio of -20.17 and a beta of 3.51. The business has a fifty day simple moving average of $32.40 and a 200-day simple moving average of $32.61.

Insider Buying and Selling at Affirm

In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares in the company, valued at approximately $5,493,105. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Keith Rabois sold 9,275 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction 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. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. The disclosure for this sale can be found here. Insiders sold 121,351 shares of company stock valued at $5,081,045 in the last quarter. 13.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors have recently bought and sold shares of AFRM. Teachers Retirement System of The State of Kentucky increased its stake in shares of Affirm by 4.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 192,558 shares of the company’s stock worth $5,817,000 after buying an additional 7,500 shares during the period. Quarry LP bought a new stake in shares of Affirm in the second quarter worth about $109,000. Algert Global LLC grew its stake in shares of Affirm by 24.5% in the second quarter. Algert Global LLC now owns 154,252 shares of the company’s stock worth $4,660,000 after purchasing an additional 30,360 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Affirm by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after purchasing an additional 3,105 shares during the period. Finally, Dragoneer Investment Group LLC bought a new position in Affirm during the 2nd quarter valued at approximately $45,219,000. 69.29% of the stock is currently owned by hedge funds and other 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.