Affirm (NASDAQ:AFRM) Stock Picked Up by Analysts at Monness Crespi & Hardt

Investment analysts at Monness Crespi & Hardt started 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 target price would suggest a potential upside of 28.42% from the stock’s current price.

AFRM has been the topic of several other research reports. Weiss Ratings upgraded Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 28th. Royal Bank Of Canada boosted their price target on shares of Affirm from $80.00 to $96.00 and gave the company a “sector perform” rating in a research report on Friday, August 28th. TD Cowen dropped their price objective on shares of Affirm from $124.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. BMO Capital Markets restated an “outperform” rating on shares of Affirm in a research report on Wednesday, September 9th. Finally, Citizens Jmp restated a “market outperform” rating and set a $85.00 price objective on shares of Affirm in a research report on Wednesday, September 16th. Twenty-five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $97.52.

Affirm Price Performance

NASDAQ:AFRM opened at $70.08 on Monday. Affirm has a one year low of $42.10 and a one year high of $90.44. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The stock has a market cap of $23.65 billion, a PE ratio of 12.70, a P/E/G ratio of 2.81 and a beta of 3.82. The stock has a 50 day moving average price of $73.26 and a 200 day moving average price of $71.45.

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

Insiders Place Their Bets

In related news, COO Michael Linford sold 79,219 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. The trade was a 39.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the business’s stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the completion of the sale, the chief financial officer owned 2,734 shares in the company, 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. In the last quarter, insiders have sold 280,118 shares of company stock valued at $22,223,307. 11.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AFRM. Signaturefd LLC raised its stake in shares of Affirm by 3.7% in the 3rd quarter. Signaturefd LLC now owns 7,587 shares of the company’s stock valued at $525,000 after acquiring an additional 270 shares during the period. BG Investment Services LLC acquired a new position in shares of Affirm in the 3rd quarter worth approximately $1,316,000. Citizens Financial Group Inc. RI lifted its holdings in shares of Affirm by 24.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,094 shares of the company’s stock worth $214,000 after acquiring an additional 608 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Affirm by 107.4% in the 3rd quarter. Simplicity Wealth LLC now owns 15,134 shares of the company’s stock worth $1,048,000 after acquiring an additional 7,837 shares during the last quarter. Finally, Gibbs Wealth Management boosted its position in shares of Affirm by 7.7% during the 3rd quarter. Gibbs Wealth Management now owns 8,131 shares of the company’s stock worth $563,000 after purchasing an additional 580 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

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.