BMO Capital Markets Reiterates Outperform Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “outperform” rating reaffirmed by stock analysts at BMO Capital Markets in a research note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $69.00 price objective on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 38.28% from the company’s previous close.

AFRM has been the topic of a number of other research reports. The Goldman Sachs Group cut their price target on shares of Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. JMP Securities increased their price target on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Barclays increased their price target on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.76.

Affirm Trading Up 4.1 %

NASDAQ:AFRM opened at $49.90 on Thursday. Affirm has a one year low of $22.25 and a one year high of $82.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm has a market cap of $15.87 billion, a P/E ratio of -76.77 and a beta of 3.63. The firm has a 50-day simple moving average of $60.68 and a 200-day simple moving average of $55.93.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. Equities analysts anticipate that Affirm will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, CFO Robert O’hare sold 6,541 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total value of $407,373.48. Following the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at approximately $184,535.64. This represents a 68.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Rabois sold 16,086 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the transaction, the director now owns 93,694 shares in the company, valued at approximately $5,839,010.08. The trade was a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,301 shares of company stock worth $3,920,543. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of hedge funds have recently made changes to their positions in AFRM. Durable Capital Partners LP boosted its holdings in Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the period. Norges Bank bought a new stake in Affirm in the fourth quarter valued at $139,949,000. Capital International Investors bought a new stake in shares of Affirm during the fourth quarter valued at about $100,030,000. Foxhaven Asset Management LP bought a new stake in shares of Affirm during the fourth quarter valued at about $80,917,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Affirm during the fourth quarter valued at about $76,738,000. Institutional investors and hedge funds 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.