Affirm (NASDAQ:AFRM) Upgraded to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a buy rating in a report published on Thursday morning, Marketbeat reports. The brokerage currently has $82.00 price objective on the stock, up from their prior price objective of $70.00.

Several other brokerages also recently weighed in on AFRM. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Bank of America upped their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group raised their price target on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.80.

Affirm Stock Down 0.5 %

Shares of Affirm stock opened at $63.00 on Thursday. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The firm’s 50 day moving average price is $57.08 and its 200-day moving average price is $41.65. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a market cap of $19.79 billion, a P/E ratio of -44.37 and a beta of 3.66.

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 business had revenue of $698.48 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.57) earnings per share. On average, sell-side analysts predict that Affirm will post -0.53 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction 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 transaction, the director now owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock worth $84,875,518 over the last quarter. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC acquired a new stake in Affirm in the second quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Affirm during the 3rd quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC grew its stake in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares during the period. Advisors Asset Management Inc. grew its stake in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.