Affirm (NASDAQ:AFRM) Given “Overweight” Rating at Cantor Fitzgerald

Affirm (NASDAQ:AFRM)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Monday,Benzinga reports. They currently have a $85.00 price objective on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 48.18% from the stock’s current price.

Several other equities analysts have also commented on AFRM. Weiss Ratings reissued a “hold (c-)” rating on shares of Affirm in a report on Monday, December 29th. BTIG Research restated a “neutral” rating on shares of Affirm in a research report on Wednesday, December 17th. Truist Financial cut their target price on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. UBS Group set a $78.00 price target on Affirm in a research note on Friday. Finally, Stephens reduced their price objective on Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $86.67.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $57.36 on Monday. Affirm has a 12-month low of $30.90 and a 12-month high of $100.00. The company’s 50 day moving average price is $71.53 and its two-hundred day moving average price is $74.29. The firm has a market cap of $18.93 billion, a PE ratio of 71.05, a PEG ratio of 2.51 and a beta of 3.56. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Equities research analysts predict that Affirm will post -0.18 earnings per share for the current year.

Insider Activity

In other news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction that occurred 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 Securities & Exchange Commission, which is available at this link. Also, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have 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 hedge funds have recently made changes to their positions in the stock. Assetmark Inc. increased its position in Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the period. Huntington National Bank raised its stake in Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after buying an additional 336 shares during the last quarter. Mather Group LLC. bought a new position in Affirm during the third quarter worth $29,000. SouthState Corp lifted its holdings in Affirm by 190.5% in the second quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after buying an additional 280 shares during the period. Finally, Blume Capital Management Inc. boosted its position in Affirm by 468.8% during the second quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock valued at $31,000 after acquiring an additional 375 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.