Affirm (NASDAQ:AFRM) Stock Rating Upgraded by Jefferies Financial Group

Affirm (NASDAQ:AFRM) was upgraded by stock analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday,Finviz reports. The brokerage presently has a $82.00 price target on the stock, up from their prior price target of $70.00. Jefferies Financial Group’s price target indicates a potential upside of 29.46% from the stock’s current price.

A number of other analysts have also commented on AFRM. Royal Bank of Canada reissued a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a report on Friday, October 4th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Barclays lifted their price objective on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Mizuho increased their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Affirm presently has an average rating of “Hold” and a consensus price target of $59.80.

Affirm Stock Down 10.7 %

Affirm stock opened at $63.34 on Thursday. The company has a market capitalization of $19.89 billion, a PE ratio of -44.61 and a beta of 3.66. Affirm has a 12-month low of $22.25 and a 12-month high of $73.34. The firm’s fifty day moving average is $56.66 and its 200 day moving average is $41.50. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period last year, the business posted ($0.57) EPS. As a group, sell-side analysts predict that Affirm will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold a total of 1,300,851 shares of company stock worth $84,875,518 in the last quarter. 12.41% of the stock is owned by company insiders.

Institutional Trading of Affirm

A number of hedge funds have recently made changes to their positions in the stock. Raymond James & Associates boosted its stake in Affirm by 40.1% in the second quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock worth $2,102,000 after buying an additional 19,920 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 purchasing an additional 540 shares during the last quarter. Atomi Financial Group Inc. raised its position in Affirm by 1.1% in the 2nd quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock worth $2,158,000 after purchasing an additional 753 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Affirm in the 2nd quarter worth $27,000. 69.29% of the stock is owned by institutional investors.

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.