Affirm (NASDAQ:AFRM) Stock Moved Up to “Moderate Buy” by Dbs Bank

Dbs Bank upgraded shares of Affirm (NASDAQ:AFRM) to a moderate buy rating in a research report sent to investors on Wednesday,Zacks reports.

Other analysts have also issued research reports about the company. TD Cowen upped their target price on Affirm from $117.00 to $124.00 and gave the company a “buy” rating in a report on Friday, August 28th. Susquehanna boosted their price objective on shares of Affirm from $105.00 to $110.00 and gave the stock a “positive” rating in a research report on Friday, August 28th. Barclays increased their price objective on shares of Affirm from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Oppenheimer raised their target price on shares of Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Finally, Sanford C. Bernstein lifted their target price on shares of Affirm from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Twenty-five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.78.

Affirm Price Performance

AFRM stock opened at $69.23 on Wednesday. The firm has a 50 day moving average of $73.35 and a 200-day moving average of $68.00. The company has a market cap of $23.36 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.83 and a beta of 3.61. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a 12-month low of $42.10 and a 12-month high of $90.44.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. As a group, equities analysts expect that Affirm will post 1.87 EPS for the current fiscal year.

Insider Activity at Affirm

In related news, CAO Siphelele Jiyane sold 26,980 shares of the business’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the transaction, the chief accounting officer owned 188,711 shares of the company’s stock, valued at approximately $13,623,047.09. The trade was a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Linford sold 79,219 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the completion of the transaction, the chief operating officer owned 120,713 shares in the company, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 214,527 shares of company stock valued at $16,974,716. 11.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. raised its holdings in Affirm by 11.8% in the 2nd quarter. QRG Capital Management Inc. now owns 10,829 shares of the company’s stock valued at $883,000 after acquiring an additional 1,145 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Affirm during the second quarter worth $307,000. Tidal Investments LLC acquired a new stake in shares of Affirm during the second quarter worth $1,097,000. RFG Advisory LLC boosted its holdings in shares of Affirm by 14.4% during the second quarter. RFG Advisory LLC now owns 21,931 shares of the company’s stock worth $1,788,000 after purchasing an additional 2,760 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Affirm by 8.4% in the second quarter. NewEdge Advisors LLC now owns 31,612 shares of the company’s stock valued at $2,578,000 after purchasing an additional 2,452 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.