Affirm (NASDAQ:AFRM) Upgraded at Zacks Research

Zacks Research upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

AFRM has been the subject of several other reports. UBS Group set a $78.00 target price on Affirm in a report on Friday, February 6th. Robert W. Baird assumed coverage on Affirm in a report on Thursday, February 19th. They set a “neutral” rating and a $55.00 price target on the stock. Bank of America started coverage on shares of Affirm in a research report on Thursday, March 5th. They set a “buy” rating and a $82.00 price target on the stock. Truist Financial dropped their price objective on shares of Affirm from $85.00 to $71.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Royal Bank Of Canada cut their price objective on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Affirm Stock Up 1.7%

AFRM stock opened at $46.31 on Tuesday. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The firm has a 50-day moving average of $51.90 and a two-hundred day moving average of $66.49. Affirm has a 12 month low of $30.90 and a 12 month high of $100.00. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 57.17, a PEG ratio of 1.69 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts forecast that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $109,440. The trade was a 96.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assetmark Inc. boosted its position in shares of Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares in the last quarter. Greenline Wealth Management LLC acquired a new stake in shares of Affirm during the 4th quarter worth about $26,000. Mather Group LLC. purchased a new stake in Affirm during the third quarter worth approximately $29,000. Triumph Capital Management acquired a new position in Affirm in the third quarter valued at approximately $31,000. Finally, CoreCap Advisors LLC boosted its holdings in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after purchasing an additional 358 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.