Affirm (NASDAQ:AFRM) Stock Rating Upgraded by Sanford C. Bernstein

Affirm (NASDAQ:AFRM) was upgraded by equities research analysts at Sanford C. Bernstein to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other brokerages have also commented on AFRM. Cantor Fitzgerald lifted their target price on Affirm from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their price objective on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on shares of Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Mizuho increased their target price on shares of Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.63.

Affirm Stock Performance

Shares of Affirm stock opened at $73.92 on Tuesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm has a 1 year low of $42.10 and a 1 year high of $100.00. The firm’s 50-day simple moving average is $73.76 and its 200-day simple moving average is $63.74. The firm has a market cap of $24.76 billion, a PE ratio of 67.20, a price-to-earnings-growth ratio of 3.06 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Equities analysts forecast that Affirm will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% 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. 11.01% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Vanguard Group Inc. increased its holdings in shares of Affirm by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after acquiring an additional 428,138 shares during the period. Capital Research Global Investors lifted its position in Affirm by 0.5% in the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after purchasing an additional 104,239 shares during the last quarter. Capital World Investors boosted its stake in Affirm by 2.4% during the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after purchasing an additional 507,224 shares during the period. Durable Capital Partners LP boosted its stake in Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after purchasing an additional 808,455 shares during the period. Finally, State Street Corp grew its position in Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

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.