Affirm (NASDAQ:AFRM) Upgraded at JMP Securities

JMP Securities upgraded shares of Affirm (NASDAQ:AFRM) from a market perform rating to an outperform rating in a report issued on Friday, MarketBeat reports. The firm currently has $78.00 price target on the stock.

AFRM has been the topic of several other research reports. Bank of America raised their price target on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Mizuho boosted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Susquehanna raised their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.94.

Affirm Stock Up 4.2 %

Shares of NASDAQ AFRM opened at $65.64 on Friday. Affirm has a 1 year low of $22.25 and a 1 year high of $73.34. The firm has a 50-day simple moving average of $57.45 and a two-hundred day simple moving average of $41.98. The company has a market cap of $20.61 billion, a P/E ratio of -46.23 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) EPS. Research analysts anticipate that Affirm will post -0.53 earnings per share for the current year.

Insider Activity at Affirm

In other Affirm news, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the completion of the sale, the president now owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total transaction of $180,125.00. Following the transaction, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,300,851 shares of company stock valued at $84,875,518 over the last 90 days. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors have recently bought and sold shares of AFRM. Bank of Montreal Can raised its holdings in shares of Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after buying an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Affirm in the 3rd quarter valued at $1,419,000. Quest Partners LLC purchased a new position in Affirm in the 3rd quarter worth $391,000. International Assets Investment Management LLC acquired a new stake in Affirm during the 3rd quarter worth about $731,000. Finally, Entropy Technologies LP purchased a new stake in Affirm during the 3rd quarter valued at about $464,000. 69.29% of the stock is currently 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.