Affirm (NASDAQ:AFRM) Coverage Initiated by Analysts at Monness Crespi & Hardt

Analysts at Monness Crespi & Hardt initiated coverage on shares of Affirm (NASDAQ:AFRM) in a research report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $90.00 price target on the stock. Monness Crespi & Hardt‘s price target points to a potential upside of 28.42% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Oppenheimer lifted their target price on Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. TD Cowen reduced their price target on shares of Affirm from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Sanford C. Bernstein raised their price objective on shares of Affirm from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. Citigroup reissued a “market outperform” rating on shares of Affirm in a research note on Friday, August 28th. Finally, Zacks Research cut shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Twenty-five research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.52.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $70.08 on Monday. Affirm has a twelve month low of $42.10 and a twelve month high of $90.44. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $73.26 and a 200-day simple moving average of $71.45. The stock has a market capitalization of $23.65 billion, a PE ratio of 12.70, a PEG ratio of 2.81 and a beta of 3.82.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s quarterly revenue was up 33.1% compared to the same quarter last year. On average, equities analysts forecast that Affirm will post 1.91 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Siphelele Jiyane sold 26,980 shares of Affirm stock in a transaction on Monday, September 14th. The stock was 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 directly owned 188,711 shares in the company, valued at approximately $13,623,047.09. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert O’Hare sold 65,591 shares of Affirm stock in a transaction on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the transaction, the chief financial officer owned 2,734 shares of the company’s stock, valued at approximately $218,774.68. This trade represents a 96.00% 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. Insiders have sold a total of 280,118 shares of company stock valued at $22,223,307 in the last three months. 11.01% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Hedge funds have recently bought and sold shares of the stock. Syntegra Private Wealth Group LLC purchased a new stake in shares of Affirm during the first quarter worth approximately $28,000. Reyes Financial Architecture Inc. acquired a new stake in Affirm in the third quarter valued at approximately $31,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Affirm in the first quarter worth approximately $34,000. Ascentis Independent Advisors purchased a new position in Affirm in the first quarter worth approximately $41,000. Finally, Mather Group LLC. lifted its stake in Affirm by 52.9% in the third quarter. Mather Group LLC. now owns 613 shares of the company’s stock worth $42,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.