Affirm (NASDAQ:AFRM) Upgraded to Overweight at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Thursday, FinViz reports. The brokerage presently has a $43.00 price objective on the stock, up from their prior price objective of $41.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 36.16% from the company’s previous close.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft increased their price target on Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a report on Friday, February 9th. The Goldman Sachs Group increased their target price on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Stephens increased their target price on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada increased their target price on Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.97.

Affirm Stock Down 9.5 %

Shares of AFRM opened at $31.58 on Thursday. The business’s 50 day simple moving average is $34.60 and its 200-day simple moving average is $35.93. Affirm has a 1 year low of $11.54 and a 1 year high of $52.48. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of -12.68 and a beta of 3.56. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The company had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. As a group, equities analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the sale, the director now owns 60,000 shares of the company’s stock, valued at $1,927,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors have recently added to or reduced their stakes in AFRM. Raymond James & Associates raised its stake in shares of Affirm by 9.2% in the third quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock worth $451,000 after purchasing an additional 1,781 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Affirm by 25.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock worth $5,910,000 after purchasing an additional 55,568 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Affirm by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 754,950 shares of the company’s stock worth $16,058,000 after purchasing an additional 23,268 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Affirm by 29.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,358 shares of the company’s stock worth $880,000 after purchasing an additional 9,354 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Affirm by 274.2% in the third quarter. Nisa Investment Advisors LLC now owns 119,970 shares of the company’s stock worth $2,552,000 after purchasing an additional 87,910 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.