Citizens Jmp Upgrades Affirm (NASDAQ:AFRM) to Strong-Buy

Affirm (NASDAQ:AFRM - Get Free Report) was upgraded by analysts at Citizens Jmp from a "hold" rating to a "strong-buy" rating in a research note issued on Friday,Zacks.com reports.

AFRM has been the topic of several other research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Affirm in a research note on Friday, September 6th. The Goldman Sachs Group increased their target price on shares of Affirm from $57.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Jefferies Financial Group upgraded shares of Affirm from a "hold" rating to a "buy" rating and boosted their price target for the company from $70.00 to $82.00 in a research report on Thursday. Susquehanna raised their price objective on shares of Affirm from $52.00 to $57.00 and gave the stock a "positive" rating in a report on Friday, November 8th. Finally, Bank of America boosted their target price on Affirm from $50.00 to $74.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $60.94.

Affirm Stock Performance

AFRM traded up $2.64 on Friday, hitting $65.64. 8,695,380 shares of the stock traded hands, compared to its average volume of 9,024,092. The business has a fifty day moving average price of $57.45 and a two-hundred day moving average price of $41.90. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $20.61 billion, a PE ratio of -46.23 and a beta of 3.66. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter last year, the firm earned ($0.57) EPS. On average, research analysts predict that Affirm will post -0.53 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, CFO Robert O'hare sold 100,938 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now directly owns 93,545 shares of the company's stock, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,300,851 shares of company stock worth $84,875,518 in the last quarter. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. KBC Group NV boosted its position in shares of Affirm by 3.6% during the third quarter. KBC Group NV now owns 6,331 shares of the company's stock worth $258,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company's stock worth $307,000 after acquiring an additional 233 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company's stock valued at $36,000 after acquiring an additional 540 shares during the period. Myecfo LLC grew its stake in Affirm by 5.0% in the third quarter. Myecfo LLC now owns 12,260 shares of the company's stock valued at $500,000 after acquiring an additional 589 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company's stock worth $44,000 after acquiring an additional 671 shares in the last quarter. Institutional investors and hedge funds 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.