Affirm (NASDAQ:AFRM) Raised to “Strong-Buy” at Zacks Research

Affirm (NASDAQ:AFRM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently commented on AFRM. Evercore reaffirmed an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. JPMorgan Chase & Co. decreased their target price on shares of Affirm from $94.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Wall Street Zen cut shares of Affirm from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Bank of America started coverage on shares of Affirm in a research note on Thursday, March 5th. They issued a “buy” rating and a $82.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Affirm in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Affirm Stock Down 0.6%

Shares of Affirm stock opened at $45.54 on Tuesday. The stock has a 50-day moving average price of $52.43 and a 200 day moving average price of $66.63. The company has a market cap of $15.17 billion, a P/E ratio of 56.22, a P/E/G ratio of 1.70 and a beta of 3.63. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, analysts expect that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. The trade was a 96.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Affirm during the 4th quarter worth about $281,961,000. Invesco Ltd. raised its stake in shares of Affirm by 294.2% in the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after acquiring an additional 3,234,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Affirm by 11,042.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares during the last quarter. Atreides Management LP boosted its position in Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. Finally, State Street Corp boosted its position in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the period. 69.29% of the stock is currently owned by institutional investors.

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.