Affirm (NASDAQ:AFRM) Raised to “Strong-Buy” at Loop Capital

Affirm (NASDAQ:AFRM) was upgraded by research analysts at Loop Capital to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

Several other equities analysts have also recently issued reports on AFRM. Needham & Company LLC raised their price target on Affirm from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, August 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. The Goldman Sachs Group increased their target price on Affirm from $106.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Truist Financial lifted their price objective on shares of Affirm from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Affirm in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.33.

Affirm Trading Down 5.5%

Shares of AFRM stock opened at $68.15 on Wednesday. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The business’s 50 day moving average is $76.50 and its two-hundred day moving average is $65.75. The company has a market cap of $23.00 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 2.95 and a beta of 3.61. Affirm has a 12 month low of $42.10 and a 12 month high of $92.56.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating the consensus estimate of $0.35 by $4.27. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.20 EPS. Equities analysts predict that Affirm will post 1.87 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $72.41, for a total transaction of $1,810,250.00. Following the sale, the chief accounting officer directly owned 215,691 shares in the company, valued at $15,618,185.31. The trade was a 10.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 287,547 shares of company stock worth $23,031,029 in the last three months. 11.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Institutional investors have recently made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new stake in Affirm during the 4th quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm in the 1st quarter valued at $28,000. Triumph Capital Management acquired a new position in shares of Affirm during the 3rd quarter valued at $31,000. Strive Financial Group LLC acquired a new position in shares of Affirm during the 4th quarter valued at $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Affirm during the first quarter worth $34,000. Institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.