Affirm (NASDAQ:AFRM) Upgraded at Piper Sandler

Affirm (NASDAQ:AFRM) was upgraded by analysts at Piper Sandler to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other research firms also recently commented on AFRM. BMO Capital Markets started coverage on shares of Affirm in a research note on Tuesday, April 21st. They set an “outperform” rating and a $75.00 price objective for the company. Truist Financial upped their target price on Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Citigroup reaffirmed a “buy” rating on shares of Affirm in a research report on Wednesday, April 15th. Finally, Robert W. Baird set a $70.00 price target on Affirm in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus price target of $87.60.

Affirm Stock Performance

AFRM opened at $81.55 on Monday. Affirm has a 52-week low of $42.10 and a 52-week 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 company has a market cap of $27.31 billion, a P/E ratio of 74.14, a price-to-earnings-growth ratio of 4.64 and a beta of 3.70. The firm’s 50-day moving average price is $68.59 and its 200-day moving average price is $62.91.

Affirm (NASDAQ:AFRM) last released its 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 company 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%. Affirm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. As a group, equities analysts anticipate that Affirm will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction 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 $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,000 shares of company stock worth $8,244,000 over the last ninety days. Insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently modified their holdings of the stock. Greenline Wealth Management LLC acquired a new position in shares of Affirm in the 4th quarter valued at about $26,000. Syntegra Private Wealth Group LLC acquired a new stake in Affirm during the first quarter worth about $28,000. Triumph Capital Management acquired a new stake in Affirm during the third quarter worth about $31,000. CoreCap Advisors LLC raised its position in Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after acquiring an additional 358 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new position in Affirm during the fourth quarter valued at approximately $33,000. 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.