Affirm (NASDAQ:AFRM) Stock Rating Upgraded by Cantor Fitzgerald

Affirm (NASDAQ:AFRM) was upgraded by equities researchers at Cantor Fitzgerald to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Wall Street Zen lowered shares of Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Needham & Company LLC raised shares of Affirm from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday. Wolfe Research started coverage on Affirm in a research report on Tuesday, December 9th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada cut their target price on Affirm from $97.00 to $87.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Finally, Truist Financial decreased their price target on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Affirm Stock Down 5.0%

Shares of NASDAQ:AFRM opened at $65.36 on Tuesday. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock has a fifty day simple moving average of $72.45 and a two-hundred day simple moving average of $74.53. Affirm has a 12-month low of $30.90 and a 12-month high of $100.00. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 97.55, a PEG ratio of 3.12 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The company’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) earnings per share. On average, research analysts anticipate that Affirm will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Max R. Levchin sold 666,666 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 711,256 shares of company stock worth $57,231,923. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Affirm by 0.9% during the third quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock valued at $1,784,545,000 after buying an additional 223,258 shares during the last quarter. Durable Capital Partners LP grew its position in shares of Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after acquiring an additional 808,455 shares during the period. State Street Corp increased its stake in shares of Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares in the last quarter. Geode Capital Management LLC raised its holdings in Affirm by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after purchasing an additional 254,359 shares during the period. Finally, Invesco Ltd. lifted its position in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after purchasing an additional 3,234,260 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.