Affirm (NASDAQ:AFRM) Upgraded by Compass Point to Buy Rating

Affirm (NASDAQ:AFRM) was upgraded by equities research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued to investors on Wednesday,Finviz reports. The brokerage currently has a $64.00 price target on the stock, up from their prior price target of $61.00. Compass Point’s target price would indicate a potential upside of 46.45% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Wells Fargo & Company upped their price objective on shares of Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Mizuho upped their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Bank of America upped their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Susquehanna lowered shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research report on Tuesday, January 21st. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.41.

Affirm Stock Down 8.9 %

AFRM stock opened at $43.70 on Wednesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The company has a 50-day moving average of $61.22 and a two-hundred day moving average of $56.00. The stock has a market capitalization of $13.90 billion, a price-to-earnings ratio of -67.23 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, equities research analysts anticipate that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other news, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the sale, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,801 shares of company stock valued at $3,806,093. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in Affirm in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. boosted its stake in Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd acquired a new stake in Affirm in the fourth quarter worth $33,000. Coppell Advisory Solutions LLC acquired a new stake in Affirm in the fourth quarter worth $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Affirm in the fourth quarter worth $43,000. 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.