Affirm (NASDAQ:AFRM) Coverage Initiated by Analysts at Truist Financial

Equities researchers at Truist Financial assumed coverage on shares of Affirm (NASDAQ:AFRM - Get Free Report) in a research note issued on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $58.00 price target on the stock. Truist Financial's price target indicates a potential upside of 5.53% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Seaport Res Ptn raised shares of Affirm to a "hold" rating in a report on Monday, March 24th. Compass Point raised shares of Affirm from a "neutral" rating to a "buy" rating and upped their target price for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. Evercore ISI started coverage on shares of Affirm in a report on Wednesday, April 9th. They set an "outperform" rating and a $50.00 target price for the company. TD Cowen started coverage on shares of Affirm in a report on Tuesday, April 8th. They set a "buy" rating and a $50.00 target price for the company. Finally, Bank of America upped their target price on shares of Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Affirm has an average rating of "Moderate Buy" and an average price target of $64.70.

Affirm Stock Performance

NASDAQ AFRM traded up $2.06 on Monday, hitting $54.96. 5,373,401 shares of the company's stock traded hands, compared to its average volume of 8,541,460. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm has a 1-year low of $22.25 and a 1-year high of $82.53. The firm's 50-day moving average price is $47.06 and its two-hundred day moving average price is $57.17. The firm has a market capitalization of $17.73 billion, a PE ratio of -84.55 and a beta of 3.66.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The firm had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the previous year, the business posted ($0.43) EPS. The business's revenue was up 35.9% compared to the same quarter last year. As a group, analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the sale, the director now owns 45,432 shares in the company, valued at $2,063,067.12. The trade was a 26.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the sale, the director now owns 38,997 shares of the company's stock, valued at $1,785,282.66. This trade represents a 6.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,677 shares of company stock valued at $1,665,545. 11.82% of the stock is owned by insiders.

Institutional Trading of Affirm

A number of institutional investors have recently modified their holdings of AFRM. Durable Capital Partners LP grew its holdings in shares of Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Affirm by 140.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock worth $205,350,000 after purchasing an additional 2,657,074 shares during the period. Norges Bank purchased a new stake in shares of Affirm during the 4th quarter worth about $139,949,000. Capital International Investors purchased a new stake in shares of Affirm during the 4th quarter worth about $100,030,000. Finally, Vanguard Group Inc. grew its holdings in shares of Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock worth $1,051,707,000 after purchasing an additional 1,457,434 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

About Affirm

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.