Affirm (NASDAQ:AFRM) Rating Increased to Strong-Buy at Citizens Jmp

Affirm (NASDAQ:AFRMGet Free Report) was upgraded by research analysts at Citizens Jmp from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research analysts also recently weighed in on AFRM. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. The Goldman Sachs Group upped their price objective on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Bank of America raised their target price on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a report on Friday, October 4th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.94.

View Our Latest Analysis on Affirm

Affirm Stock Performance

Shares of Affirm stock opened at $65.64 on Friday. The stock has a market capitalization of $20.61 billion, a price-to-earnings ratio of -46.23 and a beta of 3.66. The firm’s fifty day simple moving average is $57.45 and its 200-day simple moving average is $41.90. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a 12 month low of $22.25 and a 12 month high of $73.34.

Affirm (NASDAQ:AFRMGet Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $661.39 million. During the same period in the previous year, the business posted ($0.57) earnings per share. As a group, equities analysts forecast that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the transaction, the president now owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 1,300,851 shares of company stock worth $84,875,518. 12.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently modified their holdings of the company. ORG Wealth Partners LLC purchased a new stake in shares of Affirm in the third quarter valued at $29,000. Ridgewood Investments LLC acquired a new stake in Affirm in the 2nd quarter worth about $27,000. Advisors Asset Management Inc. increased its stake 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 acquiring an additional 671 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position 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 during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Affirm (NASDAQ:AFRM)

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