Affirm (NASDAQ:AFRM) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Affirm (NASDAQ:AFRM) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group raised their target price on Affirm from $90.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Susquehanna upped their price target on Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. Robert W. Baird increased their price objective on Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada lifted their price objective on Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, UBS Group boosted their target price on shares of Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.74.

Affirm Stock Performance

NASDAQ AFRM opened at $72.40 on Monday. Affirm has a twelve month low of $42.10 and a twelve month high of $100.00. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a market cap of $24.25 billion, a P/E ratio of 65.82, a PEG ratio of 2.98 and a beta of 3.67. The company’s 50-day simple moving average is $74.24 and its 200 day simple moving average is $63.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. As a group, research analysts forecast that Affirm will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Handelsbanken Fonder AB lifted its position in Affirm by 6.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 80,200 shares of the company’s stock worth $6,540,000 after buying an additional 4,900 shares in the last quarter. Valeo Financial Advisors LLC acquired a new stake in Affirm in the 2nd quarter valued at about $233,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in Affirm by 9.8% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 30,310 shares of the company’s stock valued at $2,472,000 after acquiring an additional 2,700 shares in the last quarter. Balefire LLC bought a new position in shares of Affirm in the second quarter worth about $248,000. Finally, GAMMA Investing LLC raised its stake in shares of Affirm by 25.3% in the second quarter. GAMMA Investing LLC now owns 5,609 shares of the company’s stock worth $457,000 after acquiring an additional 1,134 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 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.