Affirm (NASDAQ:AFRM) Raised to Buy at Jefferies Financial Group

Affirm (NASDAQ:AFRM) was upgraded by equities researchers at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Thursday,Finviz reports. The firm currently has a $82.00 price target on the stock, up from their previous price target of $70.00. Jefferies Financial Group’s target price would suggest a potential upside of 29.46% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Mizuho boosted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their target price for the company from $25.00 to $45.00 in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Wells Fargo & Company raised their target price on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.80.

Affirm Stock Performance

NASDAQ:AFRM opened at $63.34 on Thursday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The business has a 50 day moving average price of $56.66 and a 200-day moving average price of $41.50. The firm has a market cap of $19.89 billion, a PE ratio of -44.61 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the prior year, the company posted ($0.57) EPS. Equities research analysts predict that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,300,851 shares of company stock valued at $84,875,518. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lord Abbett & CO. LLC bought a new stake in shares of Affirm in the 3rd quarter worth $2,644,000. Tidal Investments LLC boosted its position in shares of Affirm by 208.6% during the third quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after buying an additional 14,720 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Affirm in the 3rd quarter worth about $244,000. Y Intercept Hong Kong Ltd purchased a new position in Affirm in the 3rd quarter worth about $1,618,000. Finally, Main Management ETF Advisors LLC bought a new position in Affirm during the 3rd quarter valued at about $2,629,000. 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.