Dbs Bank Upgrades Affirm (NASDAQ:AFRM) to Moderate Buy

Affirm (NASDAQ:AFRM) was upgraded by investment analysts at Dbs Bank to a “moderate buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Truist Financial lifted their price objective on shares of Affirm from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Morgan Stanley increased their target price on shares of Affirm from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Robert W. Baird raised their target price on shares of Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Oppenheimer increased their price objective on Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Finally, Needham & Company LLC set a $85.00 price objective on Affirm in a research note on Wednesday, September 16th. Twenty-five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.78.

Affirm Trading Down 0.1%

Shares of AFRM stock opened at $69.23 on Wednesday. The stock has a 50-day simple moving average of $73.35 and a 200 day simple moving average of $68.00. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44. The stock has a market capitalization of $23.36 billion, a P/E ratio of 12.54, a P/E/G ratio of 2.83 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82.

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

Insiders Place Their Bets

In other Affirm news, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the sale, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This represents a 12.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 41,664 shares of Affirm stock in a transaction 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 sale, the insider directly owned 152,439 shares of the company’s stock, valued at $11,513,717.67. This trade represents a 21.46% 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. Insiders sold a total of 214,527 shares of company stock worth $16,974,716 in the last quarter. 11.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

A number of institutional investors have recently bought and sold shares of AFRM. Osbon Capital Management LLC purchased a new position in Affirm in the fourth quarter valued at about $49,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Affirm during the 1st quarter worth about $34,000. Ascentis Independent Advisors purchased a new stake in shares of Affirm during the 1st quarter worth about $41,000. CX Institutional raised its stake in shares of Affirm by 2,724.3% during the 2nd quarter. CX Institutional now owns 1,045 shares of the company’s stock worth $85,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Affirm during the 2nd quarter valued at about $91,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.