Affirm (NASDAQ:AFRM) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Affirm (NASDAQ:AFRM) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other research firms also recently weighed in on AFRM. Wells Fargo & Company assumed coverage on Affirm in a research report on Tuesday, October 21st. They set an “overweight” rating and a $89.00 target price on the stock. Redburn Partners set a $101.00 price objective on Affirm in a research report on Monday, October 6th. Royal Bank Of Canada reduced their target price on shares of Affirm from $97.00 to $87.00 and set a “sector perform” rating for the company in a report on Friday, November 7th. Wolfe Research assumed coverage on shares of Affirm in a report on Tuesday, December 9th. They set a “peer perform” rating on the stock. Finally, Evercore ISI reissued an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $89.44.

Affirm Trading Down 3.9%

Shares of AFRM stock opened at $62.80 on Tuesday. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. Affirm has a 12-month low of $30.90 and a 12-month high of $100.00. The stock has a market capitalization of $20.73 billion, a P/E ratio of 93.73, a P/E/G ratio of 2.96 and a beta of 3.57. The firm’s 50 day moving average is $72.45 and its 200 day moving average is $74.45.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. The firm had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The business’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.31) EPS. Research analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by company insiders.

Institutional Trading of Affirm

Hedge funds have recently modified their holdings of the company. Assetmark Inc. increased its holdings in shares of Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after buying an additional 178 shares during the last quarter. Huntington National Bank grew its position in Affirm by 634.0% in the second quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after acquiring an additional 336 shares in the last quarter. Mather Group LLC. purchased a new stake in Affirm during the third quarter valued at approximately $29,000. SouthState Corp lifted its stake in shares of Affirm by 190.5% in the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Finally, Blume Capital Management Inc. boosted its holdings in shares of Affirm by 468.8% in the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after purchasing an additional 375 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.