Affirm’s (AFRM) Outperform Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Affirm (NASDAQ:AFRM) in a report published on Thursday morning, MarketBeat reports. BMO Capital Markets currently has a $69.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley increased their price objective on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada raised their target price on Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their target price on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. The Goldman Sachs Group dropped their target price on Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Finally, Bank of America raised their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.76.

Affirm Trading Up 4.1 %

Affirm stock opened at $49.90 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. Affirm has a one year low of $22.25 and a one year high of $82.53. The stock has a market capitalization of $15.87 billion, a PE ratio of -76.77 and a beta of 3.63. The business’s fifty day moving average is $60.68 and its 200 day moving average is $56.03.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating 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%. On average, sell-side analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Activity at Affirm

In related news, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the sale, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. This trade represents a 68.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the sale, the director now directly owns 93,694 shares in the company, valued at $5,839,010.08. This trade 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 valued at $3,920,543. 12.41% of the stock is owned by company insiders.

Institutional Trading of Affirm

A number of large investors have recently added to or reduced their stakes in the company. Hanseatic Management Services Inc. increased its stake in Affirm by 12.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after acquiring an additional 194 shares during the last quarter. CIBC Asset Management Inc increased its stake in Affirm by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after acquiring an additional 233 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Affirm by 29.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock worth $87,000 after acquiring an additional 325 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake in Affirm by 78.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock worth $46,000 after acquiring an additional 332 shares during the last quarter. Finally, Waldron Private Wealth LLC increased its stake in Affirm by 7.0% in the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock worth $334,000 after acquiring an additional 357 shares during the last quarter. 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.