Affirm (NASDAQ:AFRM) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Affirm (NASDAQ:AFRM) from an underweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports. The brokerage currently has $37.00 price objective on the stock, up from their prior price objective of $22.00.

Several other analysts also recently weighed in on the company. Barclays boosted their target price on Affirm from $50.00 to $54.00 and gave the company an overweight rating in a report on Monday, September 23rd. Mizuho reaffirmed an outperform rating and set a $65.00 price objective on shares of Affirm in a research note on Tuesday, August 27th. Royal Bank of Canada reaffirmed a sector perform rating and set a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Susquehanna initiated coverage on Affirm in a research note on Friday, September 20th. They set a positive rating and a $52.00 price objective for the company. Finally, Wedbush upped their price objective on Affirm from $20.00 to $25.00 and gave the company an underperform rating in a research note on Thursday, August 29th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $39.82.

Affirm Stock Up 12.1 %

Affirm stock opened at $47.08 on Wednesday. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. The company has a market capitalization of $14.65 billion, a P/E ratio of -28.02 and a beta of 3.50. The stock has a 50-day simple moving average of $36.84 and a 200-day simple moving average of $33.29.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The business had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Equities research analysts expect that Affirm will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now owns 64,348 shares in the company, valued at $1,730,961.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now owns 91,499 shares in the company, valued at $4,117,455. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares in the company, valued at approximately $1,730,961.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,075 shares of company stock worth $4,803,786 in the last quarter. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Large investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new stake in Affirm during the 2nd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in Affirm during the 3rd quarter valued at $29,000. Raleigh Capital Management Inc. acquired a new stake in Affirm during the 4th quarter valued at $33,000. Global Wealth Strategies & Associates grew its holdings in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the last quarter. Institutional investors and hedge funds 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.