Affirm (NASDAQ:AFRM) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Affirm (NASDAQ:AFRM) to a hold rating in a report published on Thursday,Zacks.com reports.

AFRM has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on Affirm from $94.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. The Goldman Sachs Group set a $83.00 target price on Affirm in a research report on Friday, February 6th. Mizuho reduced their target price on Affirm from $114.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Affirm in a research report on Monday, February 9th. Finally, Evercore restated an “outperform” rating on shares of Affirm in a report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Affirm Stock Performance

NASDAQ:AFRM opened at $51.09 on Thursday. The company has a 50-day moving average of $68.40 and a 200-day moving average of $73.14. The firm has a market cap of $17.02 billion, a price-to-earnings ratio of 63.07, a price-to-earnings-growth ratio of 1.91 and a beta of 3.56. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm has a twelve month low of $30.90 and a twelve month high of $100.00.

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

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the transaction, the chief financial officer owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Max R. Levchin sold 666,666 shares of the 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. The disclosure for this sale is available in the SEC filing. Insiders have sold 711,256 shares of company stock worth $57,231,923 over the last three months. 11.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AFRM. Vanguard Group Inc. boosted its stake in shares of Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock valued at $1,849,378,000 after buying an additional 428,138 shares during the period. Capital Research Global Investors increased its stake in shares of Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock worth $1,722,797,000 after acquiring an additional 104,239 shares during the last quarter. Capital World Investors raised its holdings in shares of Affirm by 2.4% during the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock worth $1,615,953,000 after acquiring an additional 507,224 shares in the last quarter. Durable Capital Partners LP boosted its position in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after purchasing an additional 808,455 shares during the last quarter. Finally, State Street Corp boosted its position in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after purchasing an additional 1,187,665 shares during the last quarter. Institutional investors and hedge funds 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.