Affirm (NASDAQ:AFRM) Stock Rating Upgraded by Compass Point

Affirm (NASDAQ:AFRM) was upgraded by investment analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $64.00 price target on the stock, up from their prior price target of $61.00. Compass Point’s price objective points to a potential upside of 33.47% from the stock’s previous close.

Several other equities analysts have also issued reports on AFRM. Wells Fargo & Company increased their target price on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price target on Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays increased their price target on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group increased their price target on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their price target on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.76.

Affirm Price Performance

AFRM opened at $47.95 on Wednesday. The stock’s 50-day moving average price is $60.78 and its 200 day moving average price is $55.89. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a market cap of $15.25 billion, a price-to-earnings ratio of -73.77 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. As a group, sell-side analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total transaction of $114,450.00. Following the transaction, the director now owns 38,997 shares in the company, valued at $1,785,282.66. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total value of $1,002,479.52. Following the transaction, the director now owns 93,694 shares in the company, valued at $5,839,010.08. This represents a 14.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,301 shares of company stock worth $3,920,543. 12.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Affirm during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its position in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the period. R Squared Ltd acquired a new stake in Affirm during the 4th quarter worth approximately $33,000. Coppell Advisory Solutions LLC acquired a new stake in Affirm during the 4th quarter worth approximately $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Affirm during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.