Affirm (NASDAQ:AFRM) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Affirm (NASDAQ:AFRM) from an equal weight rating to an overweight rating in a research report sent to investors on Friday, MarketBeat reports. The brokerage currently has $52.00 price objective on the stock, up from their previous price objective of $40.00.

Several other analysts have also issued reports on the stock. Susquehanna started coverage on shares of Affirm in a research report on Friday, September 20th. They set a positive rating and a $52.00 price target for the company. JMP Securities initiated coverage on shares of Affirm in a report on Friday, June 28th. They set a market perform rating for the company. Wedbush increased their target price on shares of Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a report on Thursday, August 29th. Bank of America increased their target price on shares of Affirm from $36.00 to $42.00 and gave the stock a buy rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Affirm from $43.00 to $45.00 and gave the stock an overweight rating in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm has an average rating of Hold and a consensus target price of $41.50.

Affirm Stock Up 4.6 %

AFRM opened at $49.26 on Friday. The stock has a market cap of $15.23 billion, a PE ratio of -22.09 and a beta of 3.50. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a 52 week low of $15.97 and a 52 week high of $52.48. The business’s fifty day simple moving average is $37.33 and its 200 day simple moving average is $33.32.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The business had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. As a group, research analysts expect that Affirm will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares of the company’s stock, valued at $1,730,961.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Affirm news, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,075 shares of company stock valued at $4,803,786. Corporate insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds have recently bought and sold shares of AFRM. Vanguard Group Inc. raised its stake in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after acquiring an additional 1,316,901 shares during the period. Capital World Investors raised its position in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after buying an additional 77,050 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after buying an additional 749,368 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Affirm during the second quarter valued at approximately $45,219,000. Finally, Bank of New York Mellon Corp raised its position in shares of Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after buying an additional 176,675 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

About Affirm

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.