Affirm (NASDAQ:AFRM) Upgraded by Morgan Stanley to Equal Weight

Affirm (NASDAQ:AFRM) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $37.00 price objective on the stock, up from their previous price objective of $22.00. Morgan Stanley’s price target points to a potential downside of 11.93% from the company’s current price.

AFRM has been the subject of a number of other reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $42.00 target price on shares of Affirm in a report on Monday, June 24th. JMP Securities started coverage on Affirm in a research note on Friday, June 28th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. lifted their price objective on Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Wedbush upped their target price on Affirm from $20.00 to $25.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Barclays lifted their price target on Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.13.

Affirm Stock Down 2.9 %

Affirm stock opened at $42.01 on Wednesday. The stock’s 50 day moving average price is $36.41 and its 200 day moving average price is $33.22. The company has a market cap of $12.99 billion, a PE ratio of -18.84 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. Affirm has a 1-year low of $15.97 and a 1-year high of $52.48.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, sell-side analysts predict that Affirm will post -0.82 EPS for the current fiscal year.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,075 shares of company stock worth $4,803,786 over the last quarter. 13.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new stake in Affirm during the fourth quarter worth about $33,000. Ridgewood Investments LLC purchased a new stake in shares of Affirm during the 2nd quarter worth about $27,000. Global Wealth Strategies & Associates increased its position in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 540 shares during the period. Finally, ORG Partners LLC raised its holdings in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares during the period. 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.