Affirm (NASDAQ:AFRM) Receives Outperform Rating from BMO Capital Markets

Affirm (NASDAQ:AFRM)‘s stock had its “outperform” rating reaffirmed by BMO Capital Markets in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $69.00 price objective on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 38.28% from the stock’s previous close.

A number of other research firms have also recently issued reports on AFRM. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating on the stock. Royal Bank of Canada upped their price target on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and upped their price target for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Finally, Barclays boosted their price objective on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.76.

Affirm Stock Up 4.1 %

Shares of Affirm stock opened at $49.90 on Thursday. The firm has a market cap of $15.87 billion, a price-to-earnings ratio of -76.77 and a beta of 3.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The stock has a 50-day simple moving average of $60.68 and a 200-day simple moving average of $55.93.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. On average, equities research analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 6,541 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now owns 2,963 shares in the company, valued at $184,535.64. This trade represents a 68.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now owns 77,608 shares in the company, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,301 shares of company stock valued at $3,920,543. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Durable Capital Partners LP increased its stake in shares of Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Norges Bank bought a new position in shares of Affirm in the 4th quarter valued at $139,949,000. Capital International Investors bought a new position in shares of Affirm in the 4th quarter valued at $100,030,000. Foxhaven Asset Management LP bought a new position in shares of Affirm in the 4th quarter valued at $80,917,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Affirm in the 4th quarter valued at $76,738,000. Institutional investors own 69.29% of the company’s stock.

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.