Affirm (NASDAQ:AFRM) Upgraded to Strong-Buy at Barclays

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

A number of other analysts have also recently issued reports on AFRM. TD Cowen upped their target price on Affirm from $90.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday. Cantor Fitzgerald boosted their price target on shares of Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Truist Financial upped their price objective on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Needham & Company LLC increased their target price on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Bank of America lifted their price target on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.35.

Affirm Price Performance

Affirm stock opened at $83.78 on Wednesday. The stock has a market cap of $28.06 billion, a P/E ratio of 76.16, a price-to-earnings-growth ratio of 3.35 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The company has a fifty day simple moving average of $71.27 and a 200-day simple moving average of $63.53. Affirm has a 12-month low of $42.10 and a 12-month high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS. Equities analysts expect that Affirm will post 1.24 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 104,000 shares of company stock worth $8,244,000. 11.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AFRM. Greenline Wealth Management LLC purchased a new stake in shares of Affirm in the fourth quarter worth about $26,000. Triumph Capital Management purchased a new stake in shares of Affirm during the 3rd quarter valued at about $31,000. CoreCap Advisors LLC raised its holdings in shares of Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares during the period. Strive Financial Group LLC acquired a new position in Affirm during the 4th quarter worth approximately $33,000. Finally, Larson Financial Group LLC lifted its position in Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares in the last quarter. Institutional investors and hedge funds 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.