Affirm (NASDAQ:AFRM) Given “Outperform” Rating at BMO Capital Markets

Affirm (NASDAQ:AFRM)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a report released on Thursday,Benzinga reports. They currently have a $69.00 price target on the stock. BMO Capital Markets’ price target would indicate a potential upside of 44.62% from the stock’s previous close.

A number of other brokerages have also recently issued reports on AFRM. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Royal Bank of Canada raised their price objective on Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $82.00 in a report on Thursday, December 19th. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Tuesday, January 21st. Finally, 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 research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.76.

Affirm Stock Performance

NASDAQ AFRM opened at $47.71 on Thursday. The company’s 50 day simple moving average is $61.00 and its two-hundred day simple moving average is $55.95. 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 1 year low of $22.25 and a 1 year high of $82.53. The stock has a market capitalization of $15.17 billion, a PE ratio of -73.40 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Analysts predict that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the completion of the transaction, the director now directly owns 93,694 shares of the company’s stock, valued at approximately $5,839,010.08. The trade was a 14.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total value of $407,373.48. Following the completion of the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at $184,535.64. This trade represents a 68.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,301 shares of company stock valued at $3,920,543. 12.41% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its stake in Affirm by 3.2% during 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 in the last quarter. Natixis Advisors LLC acquired a new stake in shares of Affirm during the third quarter worth about $759,000. Swiss National Bank lifted its holdings in shares of Affirm by 0.9% in the 3rd quarter. Swiss National Bank now owns 463,500 shares of the company’s stock valued at $18,920,000 after purchasing an additional 4,000 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Affirm in the 3rd quarter valued at about $391,000. Finally, Caprock Group LLC boosted its position in shares of Affirm by 8.7% in the 3rd quarter. Caprock Group LLC now owns 8,470 shares of the company’s stock valued at $346,000 after purchasing an additional 680 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.