Affirm’s (AFRM) Outperform Rating Reiterated at BMO Capital Markets

Affirm (NASDAQ:AFRM)‘s stock had its “outperform” rating reiterated by investment analysts at BMO Capital Markets in a research note issued to investors on Thursday,Benzinga reports. They presently have a $69.00 target price on the stock. BMO Capital Markets’ target price suggests a potential upside of 44.62% from the company’s previous close.

Several other research analysts have also issued reports on AFRM. Wells Fargo & Company increased their target price on shares of Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Susquehanna cut shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research report on Tuesday, January 21st. William Blair assumed coverage on Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating for the company. Compass Point raised Affirm from a “neutral” rating to a “buy” rating and upped their price target for the stock from $61.00 to $64.00 in a research note on Wednesday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $69.76.

Affirm Price Performance

AFRM stock opened at $47.71 on Thursday. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The company’s fifty day simple moving average is $61.00 and its 200 day simple moving average is $55.95. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of -73.40 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. On average, analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now owns 38,997 shares in the company, valued at $1,785,282.66. The trade was a 6.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the sale, the director now owns 61,520 shares in the company, valued at $3,935,434.40. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 62,301 shares of company stock valued at $3,920,543 over the last ninety days. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of large investors have recently added to or reduced their stakes in AFRM. Durable Capital Partners LP raised its holdings in shares of Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the period. Norges Bank bought a new stake in shares of Affirm in the fourth quarter valued at approximately $139,949,000. Capital International Investors bought a new stake in shares of Affirm in the fourth quarter valued at approximately $100,030,000. Foxhaven Asset Management LP purchased a new stake in shares of Affirm during the 4th quarter valued at approximately $80,917,000. Finally, Voloridge Investment Management LLC bought a new position in Affirm in the 4th quarter worth approximately $76,738,000. 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.