Affirm (NASDAQ:AFRM) Upgraded to Overweight at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Thursday, FinViz reports. The brokerage currently has a $43.00 price target on the stock, up from their previous price target of $41.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 36.16% from the company’s previous close.

A number of other equities analysts also recently commented on AFRM. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Stephens boosted their price objective on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Wedbush reiterated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Finally, Royal Bank of Canada boosted their price objective on Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.97.

Affirm Stock Down 9.5 %

NASDAQ:AFRM opened at $31.58 on Thursday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The stock has a 50-day simple moving average of $34.60 and a 200 day simple moving average of $35.93. Affirm has a one year low of $11.54 and a one year high of $52.48. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -12.68 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The company had revenue of $591.11 million during the quarter, compared to the consensus estimate of $523.92 million. Sell-side analysts predict that Affirm will post -2.45 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now owns 60,000 shares of the company’s stock, valued at $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.05% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

Several large investors have recently added to or reduced their stakes in AFRM. Norges Bank acquired a new stake in Affirm during the 4th quarter valued at $67,310,000. Leo Wealth LLC acquired a new stake in Affirm during the 4th quarter valued at $57,647,000. Vanguard Group Inc. raised its stake in Affirm by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock valued at $958,569,000 after purchasing an additional 769,843 shares during the period. Baillie Gifford & Co. raised its stake in Affirm by 4.2% during the 1st quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the period. Finally, RJA Asset Management LLC acquired a new stake in Affirm during the 1st quarter valued at $14,808,000. 69.29% of the stock is owned by institutional investors and hedge funds.

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.