Affirm (NASDAQ:AFRM) Earns Market Outperform Rating from Citizens Jmp

Affirm (NASDAQ:AFRM)‘s stock had its “market outperform” rating reaffirmed by Citizens Jmp in a note issued to investors on Wednesday, Benzinga reports. They currently have a $85.00 price objective on the stock. Citizens Jmp’s price objective points to a potential upside of 17.91% from the stock’s previous close.

A number of other research firms also recently issued reports on AFRM. JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 28th. UBS Group raised their target price on shares of Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Sanford C. Bernstein lifted their price target on shares of Affirm from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Cantor Fitzgerald boosted their price target on Affirm from $88.00 to $97.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. Finally, Wolfe Research reissued an “outperform” rating on shares of Affirm in a research report on Friday, August 28th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.33.

Affirm Stock Down 1.8%

AFRM opened at $72.09 on Wednesday. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $92.56. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The company has a market capitalization of $24.32 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.00 and a beta of 3.61. The stock has a fifty day moving average of $75.43 and a 200-day moving average of $66.39.

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

Insider Activity

In related news, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares of the company’s stock, valued at approximately $10,865,377.13. The trade was a 39.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 25,000 shares of the company’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 transaction, the chief accounting officer owned 215,691 shares of the company’s stock, valued at approximately $15,618,185.31. This represents a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 287,547 shares of company stock worth $23,031,029. Corporate insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AFRM. Tidal Investments LLC acquired a new stake in shares of Affirm during the 2nd quarter valued at $1,097,000. RFG Advisory LLC increased its holdings in Affirm by 14.4% in the 2nd quarter. RFG Advisory LLC now owns 21,931 shares of the company’s stock worth $1,788,000 after purchasing an additional 2,760 shares in the last quarter. NewEdge Advisors LLC raised its position in Affirm by 8.4% in the second quarter. NewEdge Advisors LLC now owns 31,612 shares of the company’s stock valued at $2,578,000 after purchasing an additional 2,452 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Affirm by 9.2% during the second quarter. IFP Advisors Inc now owns 4,080 shares of the company’s stock valued at $333,000 after purchasing an additional 343 shares in the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Affirm by 52.6% during the second quarter. Allworth Financial LP now owns 2,980 shares of the company’s stock worth $243,000 after purchasing an additional 1,027 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.