Compass Point upgraded shares of Affirm (NASDAQ:AFRM – Free Report) from a sell rating to a neutral rating in a report released on Tuesday morning, Marketbeat Ratings reports. Compass Point currently has $61.00 price target on the stock, up from their prior price target of $20.00.
Other research analysts also recently issued research reports about the company. William Blair assumed coverage on Affirm in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price objective on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Barclays increased their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus price target of $62.88.
Read Our Latest Research Report on AFRM
Affirm Stock Performance
Affirm (NASDAQ:AFRM – Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping 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 firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same period in the previous year, the company posted ($0.57) EPS. As a group, equities research analysts expect that Affirm will post -0.62 earnings per share for the current fiscal year.
Insider Activity at Affirm
In related news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the transaction, the director now directly owns 93,694 shares in the company, valued at $5,839,010.08. The trade was a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,323,478 shares of company stock valued at $86,285,371 over the last ninety days. Insiders own 12.41% of the company’s stock.
Hedge Funds Weigh In On Affirm
Several institutional investors and hedge funds have recently bought and sold shares of the business. Spyglass Capital Management LLC raised its stake in shares of Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Artemis Investment Management LLP raised its holdings in Affirm by 2.1% in the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after acquiring an additional 15,517 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after acquiring an additional 528,400 shares during the period. Finally, Holocene Advisors LP acquired a new position in shares of Affirm in the 3rd quarter valued at $27,872,000. 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.
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