Affirm (NASDAQ:AFRM) Rating Increased to Strong-Buy at Barclays

Barclays upgraded shares of Affirm (NASDAQ:AFRM) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

AFRM has been the subject of a number of other research reports. Susquehanna lifted their price objective on Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. Truist Financial boosted their price objective on shares of Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a report on Wednesday, June 24th. BTIG Research reiterated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Finally, Morgan Stanley set a $79.00 target price on shares of Affirm and gave the stock an “overweight” rating in a report on Sunday, May 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.35.

Affirm Price Performance

Shares of AFRM opened at $83.78 on Wednesday. The business’s 50-day moving average is $71.27 and its 200-day moving average is $63.53. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The company has a market capitalization of $28.06 billion, a price-to-earnings ratio of 76.16, a P/E/G ratio of 3.35 and a beta of 3.67. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. During the same period last year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. Equities research analysts expect that Affirm will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, COO Michael Linford sold 100,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director owned 36,076 shares in the company, valued at $2,344,940. This represents a 5.25% 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 90 days, insiders sold 104,000 shares of company stock worth $8,244,000. 11.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Affirm Company Profile

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.