Affirm (NASDAQ:AFRM) Rating Increased to Strong-Buy at Loop Capital

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

A number of other analysts have also weighed in on AFRM. Cantor Fitzgerald increased their target price on Affirm from $88.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. lifted their price target on shares of Affirm from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Robert W. Baird lifted their price target on Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Barclays upped their price objective on shares of Affirm from $97.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 28th. One equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $99.33.

Affirm Stock Down 5.5%

Shares of AFRM stock opened at $68.15 on Wednesday. Affirm has a one year low of $42.10 and a one year high of $92.56. The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80. The company has a market capitalization of $23.00 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.95 and a beta of 3.61. The company’s fifty day moving average price is $76.50 and its 200-day moving average price is $65.75.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, topping the consensus estimate of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. Sell-side analysts expect that Affirm will post 1.87 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. The trade was a 21.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 dated Friday, September 4th. The stock was sold at an average price of $72.41, for a total value of $1,810,250.00. Following the transaction, the chief accounting officer directly 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. Over the last quarter, insiders have sold 287,547 shares of company stock valued at $23,031,029. 11.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Greenline Wealth Management LLC purchased a new position in Affirm during the fourth quarter worth about $26,000. Triumph Capital Management acquired a new position in shares of Affirm in the 3rd quarter valued at approximately $31,000. Strive Financial Group LLC acquired a new stake in shares of Affirm in the 4th quarter valued at about $33,000. Larson Financial Group LLC lifted its stake in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in Affirm by 200.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 600 shares of the company’s stock worth $45,000 after acquiring an additional 400 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.