Affirm (NASDAQ:AFRM) Upgraded 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 note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on AFRM. TD Cowen reissued a “buy” rating on shares of Affirm in a research note on Friday, February 6th. The Goldman Sachs Group lowered Affirm from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Needham & Company LLC decreased their target price on shares of Affirm from $100.00 to $85.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a report on Friday, March 27th. Finally, Robert W. Baird started coverage on shares of Affirm in a research report on Thursday, February 19th. They issued a “neutral” rating and a $55.00 price target on the stock. One equities 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, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Affirm Stock Down 0.6%

Shares of NASDAQ:AFRM opened at $45.54 on Tuesday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. Affirm has a 52-week low of $30.90 and a 52-week high of $100.00. The company has a market capitalization of $15.17 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 1.70 and a beta of 3.63. The company has a fifty day moving average of $52.43 and a 200-day moving average of $66.63.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.12 billion during 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 EPS. On average, equities analysts predict that Affirm will post -0.18 EPS for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was 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 directly owned 1,368 shares in the company, valued at approximately $109,440. The trade was a 96.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The disclosure for this sale is available in the SEC filing. Company insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. acquired a new stake in Affirm in the 3rd quarter valued at $19,077,000. Resona Asset Management Co. Ltd. bought a new position in shares of Affirm during the 3rd quarter worth $6,036,000. Gateway Investment Advisers LLC bought a new stake in Affirm in the 3rd quarter valued at about $1,315,000. Envestnet Asset Management Inc. boosted its holdings in Affirm by 26.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock worth $17,185,000 after buying an additional 48,734 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Affirm by 96.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,261,611 shares of the company’s stock worth $93,889,000 after acquiring an additional 618,988 shares during the period. 69.29% of the stock is owned by institutional investors.

About Affirm

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.