Affirm’s (AFRM) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Monday,Benzinga reports. They currently have a $85.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America lifted their price objective on shares of Affirm from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. TD Cowen reissued a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Affirm in a research note on Friday, February 6th. Evercore reissued an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. Finally, Wolfe Research assumed coverage on Affirm in a research report on Tuesday, December 9th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average target price of $86.67.

Affirm Stock Performance

NASDAQ AFRM opened at $56.54 on Monday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. Affirm has a 1-year low of $30.90 and a 1-year high of $100.00. The business has a 50 day simple moving average of $70.90 and a two-hundred day simple moving average of $74.06. The stock has a market capitalization of $18.66 billion, a PE ratio of 69.80, a P/E/G ratio of 2.23 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $0.23 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, research analysts predict that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $109,440. The trade was a 96.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 711,256 shares of company stock valued at $57,231,923. Corporate insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management boosted its holdings in shares of Affirm by 39.4% in the fourth quarter. Picton Mahoney Asset Management now owns 185,978 shares of the company’s stock valued at $13,842,000 after purchasing an additional 52,520 shares during the period. Vestor Capital LLC raised its position in Affirm by 378.4% during the 4th quarter. Vestor Capital LLC now owns 769,364 shares of the company’s stock valued at $57,264,000 after purchasing an additional 608,529 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Affirm by 25.7% in the 4th quarter. Empowered Funds LLC now owns 13,308 shares of the company’s stock worth $991,000 after buying an additional 2,720 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Affirm by 8.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 6,448 shares of the company’s stock worth $480,000 after buying an additional 520 shares in the last quarter. Finally, J.Safra Asset Management Corp increased its stake in shares of Affirm by 19.5% during the fourth quarter. J.Safra Asset Management Corp now owns 9,139 shares of the company’s stock valued at $680,000 after buying an additional 1,493 shares during the period. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.