Affirm’s (AFRM) “Market Outperform” Rating Reiterated at Citizens Jmp

Affirm (NASDAQ:AFRM)‘s stock had its “market outperform” rating reissued by stock analysts at Citizens Jmp in a report issued on Friday, Benzinga reports. They presently have a $85.00 price target on the stock. Citizens Jmp‘s price objective indicates a potential upside of 22.02% from the stock’s current price.

A number of other brokerages also recently weighed in on AFRM. BMO Capital Markets reaffirmed an “outperform” rating on shares of Affirm in a report on Wednesday, September 9th. Dbs Bank raised Affirm to a “moderate buy” rating in a report on Wednesday, September 30th. Weiss Ratings upgraded Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. Wolfe Research reaffirmed an “outperform” rating on shares of Affirm in a research note on Friday, August 28th. Finally, Bank of America raised their price objective on Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.41.

Affirm Stock Performance

NASDAQ AFRM opened at $69.66 on Friday. 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 firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 3.07 and a beta of 3.74. The firm’s 50 day simple moving average is $72.73 and its 200 day simple moving average is $66.57. Affirm has a 1 year low of $42.10 and a 1 year high of $90.44.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.09. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was up 35.2% compared to the same quarter last year. As a group, research analysts expect that Affirm will post 1.89 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the sale, the insider owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. The trade was a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the company’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the transaction, the chief financial officer owned 2,734 shares of the company’s stock, valued at $218,774.68. This trade represents a 96.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 280,118 shares of company stock worth $22,223,307 in the last 90 days. 11.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of the company. Maryland State Retirement & Pension System grew its position in Affirm by 8.2% during the 3rd quarter. Maryland State Retirement & Pension System now owns 17,035 shares of the company’s stock worth $1,179,000 after acquiring an additional 1,298 shares during the last quarter. Machina Capital S.A.S. bought a new position in Affirm in the third quarter valued at about $208,000. Lido Advisors LLC raised its position in Affirm by 52.2% in the third quarter. Lido Advisors LLC now owns 7,800 shares of the company’s stock valued at $540,000 after purchasing an additional 2,675 shares during the last quarter. Keybank National Association OH raised its position in Affirm by 90.5% in the third quarter. Keybank National Association OH now owns 5,539 shares of the company’s stock valued at $383,000 after purchasing an additional 2,632 shares during the last quarter. Finally, AlphaCore Capital LLC boosted its stake in shares of Affirm by 65.4% during the third quarter. AlphaCore Capital LLC now owns 4,740 shares of the company’s stock valued at $328,000 after purchasing an additional 1,875 shares in 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.