Affirm (NASDAQ:AFRM) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have $82.00 price objective on the stock, up from their prior price objective of $70.00.

Several other analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Barclays upped their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. The Goldman Sachs Group boosted their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Bank of America lifted their price target on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Affirm currently has an average rating of “Moderate Buy” and an average target price of $60.94.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $65.64 on Thursday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The business has a 50 day moving average price of $57.45 and a two-hundred day moving average price of $41.90. The firm has a market cap of $20.61 billion, a PE ratio of -46.23 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the company posted ($0.57) earnings per share. Sell-side analysts expect that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the sale, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. This represents a 5.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Linford sold 400,000 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This trade represents a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,300,851 shares of company stock valued at $84,875,518 in the last three months. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Affirm during the third quarter worth approximately $1,419,000. Quest Partners LLC purchased a new position in Affirm during the third quarter valued at approximately $391,000. International Assets Investment Management LLC acquired a new position in Affirm in the 3rd quarter valued at approximately $731,000. Finally, Entropy Technologies LP purchased a new stake in Affirm in the 3rd quarter worth approximately $464,000. 69.29% of the stock is owned by institutional investors and hedge funds.

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.