Cantor Fitzgerald Reaffirms Overweight Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a report issued on Monday,Benzinga reports. They currently have a $85.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 42.50% from the stock’s current price.

A number of other equities research analysts have also commented on AFRM. Bank of America raised their price target on Affirm from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Susquehanna restated a “positive” rating and set a $100.00 target price on shares of Affirm in a report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a report on Monday, December 29th. Finally, BTIG Research reissued a “neutral” rating on shares of Affirm in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.67.

Affirm Trading Up 2.9%

Shares of NASDAQ AFRM opened at $59.65 on Monday. Affirm has a twelve month low of $30.90 and a twelve month high of $100.00. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 73.64, a P/E/G ratio of 2.41 and a beta of 3.56. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The company’s fifty day moving average is $71.16 and its 200-day moving average is $74.18.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts predict that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 711,256 shares of company stock worth $57,231,923. 11.01% of the stock is currently owned by insiders.

Institutional Trading of Affirm

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

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.