Citizens Jmp Upgrades Affirm (NASDAQ:AFRM) to “Strong-Buy”

Citizens Jmp upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a strong-buy rating in a report released on Friday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. JMP Securities upgraded shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.94.

Affirm Price Performance

AFRM stock opened at $65.64 on Friday. The stock has a 50-day moving average price of $57.45 and a two-hundred day moving average price of $41.98. Affirm has a 1 year low of $22.25 and a 1 year high of $73.34. The stock has a market cap of $20.61 billion, a PE ratio of -46.23 and a beta of 3.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the firm earned ($0.57) earnings per share. Equities analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the company’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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at $5,149,652.25. This represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,300,851 shares of company stock valued at $84,875,518 in the last quarter. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC bought a new stake in shares of Affirm in the third quarter valued at approximately $2,644,000. Tidal Investments LLC lifted its position in shares of Affirm by 208.6% during the 3rd quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after acquiring an additional 14,720 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of Affirm during the 3rd quarter worth $244,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Affirm during the 3rd quarter worth $1,618,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of Affirm in the third quarter worth $2,629,000. 69.29% of the stock is owned by institutional investors.

Affirm Company Profile

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.