Affirm (NASDAQ:AFRM) Stock Rating Upgraded by Citizens Jmp

Affirm (NASDAQ:AFRM) was upgraded by stock analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research note issued on Friday,Zacks.com reports.

Several other equities research analysts have also commented on AFRM. The Goldman Sachs Group upped their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $82.00 in a research report on Thursday. JMP Securities raised shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Friday. Wells Fargo & Company boosted their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $45.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Trading Up 4.2 %

Shares of NASDAQ AFRM opened at $65.64 on Friday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The company’s fifty day moving average is $57.45 and its 200-day moving average is $41.90. Affirm has a twelve month low of $22.25 and a twelve month high of $73.34. The stock has a market cap of $20.61 billion, a price-to-earnings ratio of -46.23 and a beta of 3.66.

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

Insider Activity at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the transaction, the director now directly owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. The trade was a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,300,851 shares of company stock worth $84,875,518 in the last 90 days. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates grew its position in Affirm by 40.1% during the second quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock valued at $2,102,000 after buying an additional 19,920 shares during the period. Bank of New York Mellon Corp raised its holdings in Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after purchasing an additional 176,675 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the period. Atomi Financial Group Inc. increased its position in Affirm by 1.1% in the second quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock worth $2,158,000 after buying an additional 753 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Affirm during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.