Compass Point Upgrades Affirm (NASDAQ:AFRM) to “Buy”

Affirm (NASDAQ:AFRM) was upgraded by research analysts at Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday,Finviz reports. The firm currently has a $64.00 price target on the stock, up from their previous price target of $61.00. Compass Point’s target price indicates a potential upside of 46.45% from the company’s previous close.

A number of other brokerages have also commented on AFRM. UBS Group raised their price objective on shares of Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. JMP Securities raised their price objective on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday. William Blair assumed coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.41.

Affirm Trading Down 8.9 %

AFRM opened at $43.70 on Wednesday. The firm’s fifty day moving average is $61.22 and its two-hundred day moving average is $56.00. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm has a market cap of $13.90 billion, a PE ratio of -67.23 and a beta of 3.63. Affirm has a twelve month low of $22.25 and a twelve month high of $82.53.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. Equities research analysts anticipate that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 6,541 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total transaction of $407,373.48. Following the completion of the sale, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. This represents a 68.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the sale, the director now directly owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,801 shares of company stock worth $3,806,093 in the last quarter. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System lifted its stake in Affirm by 1.0% in the 4th quarter. California State Teachers Retirement System now owns 226,593 shares of the company’s stock valued at $13,800,000 after purchasing an additional 2,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Affirm in the fourth quarter worth $228,000. Wealthedge Investment Advisors LLC acquired a new stake in Affirm in the fourth quarter worth $468,000. Leigh Baldwin & CO. LLC acquired a new stake in Affirm in the fourth quarter worth $210,000. Finally, Challenger Wealth Management bought a new position in shares of Affirm in the fourth quarter valued at $244,000. 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.