Affirm (NASDAQ:AFRM) Upgraded by Susquehanna to Positive Rating

Susquehanna upgraded shares of Affirm (NASDAQ:AFRM) from a neutral rating to a positive rating in a report issued on Friday morning, MarketBeat Ratings reports. Susquehanna currently has $65.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. JMP Securities boosted their price objective on shares of Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. William Blair began coverage on Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. Royal Bank of Canada raised their price objective on Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Wells Fargo & Company cut their price objective on Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Barclays raised their target price on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Affirm Stock Down 14.4 %

Affirm stock opened at $46.44 on Friday. The stock has a market cap of $14.77 billion, a PE ratio of -71.45 and a beta of 3.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The stock has a fifty day moving average of $46.42 and a 200 day moving average of $56.60. Affirm has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.43) EPS. As a group, sell-side analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now owns 137,325 shares in the company, valued at $10,986,000. This trade represents a 3.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the completion of the transaction, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,765 shares of company stock valued at $3,094,694. 12.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Durable Capital Partners LP lifted its stake in shares of Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Norges Bank bought a new stake in Affirm in the fourth quarter worth $139,949,000. Capital International Investors purchased a new position in Affirm during the fourth quarter worth $100,030,000. Vanguard Group Inc. increased its position in Affirm by 6.7% during the first quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after acquiring an additional 1,457,434 shares during the last quarter. Finally, Foxhaven Asset Management LP bought a new stake in shares of Affirm in the 4th quarter worth about $80,917,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.