Affirm's (AFRM) Market Outperform Rating Reiterated at Citizens Jmp

Key Points

• Citizens JMP reiterated its “Market Outperform” rating on Affirm and kept an $85 price target, implying 22.02% upside from the prior close.
• Analyst sentiment is broadly positive: Affirm has a “Moderate Buy” consensus rating and an average price target of $97.41.
• Affirm reported quarterly EPS of $0.47, beating estimates of $0.38, while revenue of $1.15 billion fell short of the $1.21 billion forecast; revenue grew 35.2% year over year.

Affirm (NASDAQ:AFRM - Get Free Report)'s stock had its "market outperform" rating reiterated by research analysts at Citizens Jmp in a research note issued to investors on Friday, Benzinga reports. They currently have a $85.00 price target on the stock. Citizens Jmp's price objective points to a potential upside of 22.02% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler boosted their price objective on Affirm from $103.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Needham & Company LLC set a $85.00 price target on Affirm in a report on Wednesday, September 16th. Royal Bank Of Canada boosted their price target on Affirm from $80.00 to $96.00 and gave the company a "sector perform" rating in a research note on Friday, August 28th. Weiss Ratings raised Affirm from a "hold (c-)" rating to a "hold (c+)" rating in a report on Friday, August 28th. Finally, Monness Crespi & Hardt initiated coverage on Affirm in a research report on Monday, October 26th. They set a "buy" rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Affirm presently has an average rating of "Moderate Buy" and a consensus target price of $97.41.

Affirm Stock Performance

Shares of AFRM stock opened at $69.66 on Friday. The company has a market capitalization of $23.50 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 3.07 and a beta of 3.74. 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 company has a 50-day simple moving average of $72.73 and a 200 day simple moving average of $66.57. Affirm has a 52 week low of $42.10 and a 52 week high of $90.44.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.09. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.21 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. Affirm's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. On average, sell-side analysts predict that Affirm will post 1.89 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This represents a 12.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Linford sold 79,219 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. This represents a 39.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 280,118 shares of company stock worth $22,223,307. 11.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds have recently added to or reduced their stakes in AFRM. Spyglass Capital Management LLC raised its holdings in Affirm by 15.2% in the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock valued at $76,168,000 after acquiring an additional 218,745 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Affirm by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company's stock worth $71,829,000 after purchasing an additional 303,037 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Affirm by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock worth $72,100,000 after purchasing an additional 166,252 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Affirm in the second quarter worth $75,121,000. Finally, Swiss National Bank increased its position in shares of Affirm by 8.8% in the first quarter. Swiss National Bank now owns 806,800 shares of the company's stock worth $36,968,000 after purchasing an additional 65,000 shares during the period. 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.

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