Affirm (NASDAQ:AFRM) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Affirm (NASDAQ:AFRM) from an equal weight rating to an overweight rating in a report published on Friday, Marketbeat.com reports. The firm currently has $52.00 price target on the stock, up from their prior price target of $40.00.

AFRM has been the subject of several other reports. Morgan Stanley raised shares of Affirm from an underweight rating to an equal weight rating and lifted their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday. Bank of America upped their price objective on Affirm from $36.00 to $42.00 and gave the stock a buy rating in a research report on Thursday, August 29th. The Goldman Sachs Group restated a buy rating and set a $42.00 target price on shares of Affirm in a research note on Monday, June 24th. BTIG Research raised shares of Affirm from a neutral rating to a buy rating and set a $68.00 price objective on the stock in a report on Tuesday. Finally, Wedbush upped their target price on shares of Affirm from $20.00 to $25.00 and gave the company an underperform rating in a report on Thursday, August 29th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Affirm presently has an average rating of Hold and an average price target of $39.82.

Affirm Stock Performance

NASDAQ AFRM opened at $47.08 on Friday. Affirm has a 1-year low of $15.97 and a 1-year high of $52.48. The stock has a 50-day moving average of $36.84 and a two-hundred day moving average of $33.29. The company has a market cap of $14.65 billion, a P/E ratio of -28.02 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The company had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. As a group, analysts anticipate that Affirm will post -0.82 EPS for the current year.

Insider Activity at Affirm

In other news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,075 shares of company stock worth $4,803,786 in the last three months. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after acquiring an additional 1,316,901 shares during the last quarter. Capital World Investors raised its holdings in Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after buying an additional 77,050 shares during the period. Baillie Gifford & Co. lifted its position in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after buying an additional 749,368 shares in the last quarter. Dragoneer Investment Group LLC purchased a new stake in Affirm during the second quarter worth approximately $45,219,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after acquiring an additional 176,675 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.