Affirm (NASDAQ:AFRM) Earns Buy Rating from Analysts at Bank of America

Bank of America started coverage on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Thursday morning. The brokerage issued a buy rating and a $82.00 price objective on the stock.

A number of other analysts also recently weighed in on AFRM. Morgan Stanley reiterated an “overweight” rating on shares of Affirm in a report on Wednesday. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Affirm in a research report on Friday, February 6th. Evercore reaffirmed an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. UBS Group set a $78.00 target price on Affirm in a report on Friday, February 6th. Finally, Compass Point reissued a “buy” rating and issued a $68.00 price target on shares of Affirm in a research note on Wednesday, February 18th. Twenty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and an average price target of $84.36.

Affirm Stock Down 1.5%

Shares of NASDAQ AFRM opened at $51.70 on Thursday. The company’s 50 day moving average price is $63.30 and its 200-day moving average price is $71.22. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. Affirm has a 52-week low of $30.90 and a 52-week high of $100.00. The company has a market capitalization of $17.22 billion, a P/E ratio of 63.83, a price-to-earnings-growth ratio of 1.90 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data 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. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. Affirm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share. Equities analysts forecast that Affirm will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the 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 SEC filing for this sale provides additional information. 11.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AFRM. Vanguard Group Inc. raised its holdings in shares of Affirm by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after acquiring an additional 428,138 shares during the last quarter. Capital Research Global Investors boosted its stake in Affirm by 0.5% during the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after purchasing an additional 104,239 shares during the last quarter. Capital World Investors increased its holdings in Affirm by 2.4% during the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock worth $1,615,953,000 after purchasing an additional 507,224 shares in the last quarter. Durable Capital Partners LP increased its holdings in Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after purchasing an additional 808,455 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Affirm by 26.7% in the third 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 during the last quarter. 69.29% of the stock is owned by institutional investors.

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.