Affirm (NASDAQ:AFRM) Upgraded at Zacks Research

Affirm (NASDAQ:AFRM) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms have also issued reports on AFRM. Truist Financial increased their price target on shares of Affirm from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Citigroup lifted their price objective on Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Compass Point set a $100.00 price objective on Affirm in a research note on Friday, July 17th. Needham & Company LLC increased their target price on Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group raised their target price on Affirm from $90.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.74.

Affirm Stock Down 0.9%

AFRM opened at $72.40 on Monday. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The firm’s fifty day moving average price is $74.24 and its two-hundred day moving average price is $63.50. The company has a market capitalization of $24.25 billion, a P/E ratio of 65.82, a P/E/G ratio of 2.98 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. On average, analysts anticipate that Affirm will post 1.23 EPS for the current year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This trade represents a 45.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently bought and sold shares of AFRM. Vanguard Group Inc. boosted its stake in Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after purchasing an additional 428,138 shares in the last quarter. Capital Research Global Investors raised its holdings 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 valued at $1,722,797,000 after buying an additional 104,239 shares during the last quarter. Capital World Investors raised its holdings in shares of Affirm by 2.4% in the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after buying an additional 507,224 shares during the last quarter. Durable Capital Partners LP lifted its position 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 buying an additional 808,455 shares in the last quarter. Finally, State Street Corp lifted its position in Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.