Affirm (NASDAQ:AFRM) Stock Rating Upgraded by JMP Securities

Affirm (NASDAQ:AFRM) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report issued on Friday, MarketBeat.com reports. The firm presently has a $78.00 price objective on the stock. JMP Securities’ price objective points to a potential upside of 18.83% from the stock’s previous close.

A number of other analysts have also recently weighed in on AFRM. Barclays boosted their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Bank of America boosted their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Susquehanna increased their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Trading Up 4.2 %

NASDAQ:AFRM opened at $65.64 on Friday. The company has a market capitalization of $20.61 billion, a P/E ratio of -46.23 and a beta of 3.66. The stock’s 50 day moving average price is $57.45 and its 200 day moving average price is $41.90. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company 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 previous year, the firm posted ($0.57) earnings per share. On average, research analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Linford sold 400,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,300,851 shares of company stock worth $84,875,518. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in Affirm by 40.1% during the 2nd quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock worth $2,102,000 after acquiring an additional 19,920 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Affirm by 25.6% during the second 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 last quarter. Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 540 shares in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of Affirm by 1.1% in the second quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock valued at $2,158,000 after buying an additional 753 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Affirm during the 2nd quarter worth about $27,000. 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.