Affirm (NASDAQ:AFRM) Earns Outperform Rating from Analysts at William Blair

Research analysts at William Blair assumed coverage on shares of Affirm (NASDAQ:AFRM) in a research note issued to investors on Wednesday, Marketbeat reports. The firm set an “outperform” rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.88.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $58.00 on Wednesday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company’s fifty day moving average is $63.58 and its two-hundred day moving average is $45.77. Affirm has a one year low of $22.25 and a one year high of $73.34. The firm has a market capitalization of $18.22 billion, a P/E ratio of -40.84 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.57) EPS. Analysts forecast that Affirm will post -0.53 EPS for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,323,478 shares of company stock worth $86,285,371. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its holdings in Affirm by 5.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 12,548 shares of the company’s stock worth $379,000 after buying an additional 680 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Affirm during the 2nd quarter valued at about $233,000. American Century Companies Inc. raised its stake in Affirm by 2.8% during the second quarter. American Century Companies Inc. now owns 93,171 shares of the company’s stock worth $2,815,000 after acquiring an additional 2,538 shares during the period. DekaBank Deutsche Girozentrale raised its stake in Affirm by 404.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 13,209 shares of the company’s stock worth $409,000 after acquiring an additional 10,592 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Affirm by 87.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 22,470 shares of the company’s stock worth $679,000 after acquiring an additional 10,469 shares during the last quarter. Hedge funds and other 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.