Robert W. Baird Upgrades Affirm (NASDAQ:AFRM) to “Hold”

Affirm (NASDAQ:AFRM) was upgraded by equities researchers at Robert W. Baird to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other brokerages also recently commented on AFRM. Bank of America increased their price objective on shares of Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Stephens cut their price target on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Citigroup raised shares of Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Affirm in a research report on Friday, February 6th. Finally, Royal Bank Of Canada reduced their target price on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Affirm Stock Performance

Affirm stock opened at $51.09 on Thursday. Affirm has a twelve month low of $30.90 and a twelve month high of $100.00. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $17.02 billion, a P/E ratio of 63.07, a PEG ratio of 1.94 and a beta of 3.56. The stock’s 50 day moving average is $68.40 and its 200 day moving average is $73.15.

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

Insider Buying and Selling at Affirm

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 711,256 shares of company stock worth $57,231,923 over the last three months. Insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors and hedge funds have recently made changes to their positions in AFRM. Assetmark Inc. grew its position in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares during the period. Greenline Wealth Management LLC purchased a new position in shares of Affirm during the 4th quarter worth $26,000. Huntington National Bank grew its position in shares of Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after acquiring an additional 336 shares during the period. Mather Group LLC. purchased a new stake in shares of Affirm in the 3rd quarter worth $29,000. Finally, SouthState Corp increased its stake in shares of Affirm by 190.5% in the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.