Affirm’s (AFRM) “Market Outperform” Rating Reiterated at Citizens Jmp

Citizens Jmp restated their market outperform rating on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $85.00 price target on the stock.

Several other brokerages also recently issued reports on AFRM. UBS Group upped their price objective on Affirm from $82.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. JPMorgan Chase & Co. lifted their price objective on Affirm from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Compass Point set a $100.00 target price on shares of Affirm in a research note on Friday, July 17th. TD Cowen boosted their target price on shares of Affirm from $117.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Twenty-four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and an average price target of $98.78.

Affirm Stock Up 1.3%

AFRM stock opened at $71.21 on Wednesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80. The company’s 50 day simple moving average is $74.72 and its 200-day simple moving average is $66.73. Affirm has a 12 month low of $42.10 and a 12 month high of $92.56. The firm has a market capitalization of $24.03 billion, a PE ratio of 12.90, a P/E/G ratio of 2.87 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. Equities analysts expect that Affirm will post 1.87 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, COO Michael Linford sold 79,219 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $90.01, for a total value of $7,130,502.19. Following the completion of the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. This represents a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $72.19, for a total value of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This trade represents a 12.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 314,527 shares of company stock worth $24,978,716 over the last quarter. 11.01% of the stock is currently owned by insiders.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Syntegra Private Wealth Group LLC purchased a new position in shares of Affirm during the 1st quarter worth about $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Affirm in the first quarter worth approximately $34,000. Ascentis Independent Advisors purchased a new stake in Affirm in the first quarter valued at approximately $41,000. Osbon Capital Management LLC purchased a new stake in Affirm in the fourth quarter valued at approximately $49,000. Finally, Oslo Pensjonsforsikring AS purchased a new stake in Affirm in the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.