Affirm (NASDAQ:AFRM) Upgraded to “Neutral” at Compass Point

Affirm (NASDAQ:AFRM) was upgraded by Compass Point from a “sell” rating to a “neutral” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $61.00 price objective on the stock, up from their previous price objective of $20.00. Compass Point’s price objective indicates a potential upside of 3.48% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. The Goldman Sachs Group raised their price objective 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. Finally, Bank of America lifted their price objective on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.88.

Affirm Price Performance

Shares of Affirm stock opened at $58.95 on Tuesday. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34. The firm’s 50-day moving average price is $63.73 and its two-hundred day moving average price is $47.74. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $18.51 billion, a price-to-earnings ratio of -41.51 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million for 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 quarter in the previous year, the firm earned ($0.57) earnings per share. On average, equities analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was 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 directly owns 41,497 shares in the company, valued at $2,989,858.85. The trade was a 5.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total transaction of $407,373.48. Following the completion of the transaction, the chief financial officer now owns 2,963 shares in the company, valued at $184,535.64. This trade represents a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,323,478 shares of company stock valued at $86,285,371 in the last 90 days. 12.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC acquired a new stake in shares of Affirm in the 3rd quarter valued at $29,000. Geneos Wealth Management Inc. increased its position in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares in the last quarter. R Squared Ltd bought a new position in Affirm in the 4th quarter valued at approximately $33,000. Advisors Asset Management Inc. boosted its position in Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds 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.