Citizens Jmp Reiterates Market Outperform Rating for Affirm (NASDAQ:AFRM)

Key Points

• Citizens Jmp reiterated its “market outperform” rating on Affirm and set an $85 price target, implying approximately 17.9% upside from the reported $72.09 share price.
• Affirm’s analyst consensus remains favorable at “Moderate Buy,” based on 24 Buy and eight Hold ratings, with an average target price of $99.33.
• In its latest quarter, Affirm reported $4.62 in EPS, far above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion; insiders have nevertheless sold about $23 million of stock over the past 90 days.

Affirm (NASDAQ:AFRM - Get Free Report)'s stock had its "market outperform" rating reissued by stock analysts at Citizens Jmp in a report released on Wednesday, Benzinga reports. They presently have a $85.00 price target on the stock. Citizens Jmp's target price suggests a potential upside of 17.91% from the company's current price.

AFRM has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. The Goldman Sachs Group increased their price objective on Affirm from $106.00 to $115.00 and gave the company a "buy" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. boosted their target price on Affirm from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Affirm in a research note on Wednesday, September 9th. Finally, Royal Bank Of Canada lifted their price objective on Affirm from $80.00 to $96.00 and gave the stock a "sector perform" rating in a research report on Friday, August 28th. Twenty-four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.33.

Affirm Stock Performance

NASDAQ:AFRM opened at $72.09 on Wednesday. The stock has a market capitalization of $24.32 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 3.00 and a beta of 3.61. Affirm has a 1 year low of $42.10 and a 1 year high of $92.56. The firm has a 50 day moving average of $75.43 and a 200-day moving average of $66.39. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. The firm had revenue of $1.07 billion during 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 business's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS. As a group, sell-side analysts anticipate that Affirm will post 1.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Siphelele Jiyane sold 25,000 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $72.41, for a total value of $1,810,250.00. Following the sale, the chief accounting officer directly owned 215,691 shares of the company's stock, valued at approximately $15,618,185.31. The trade was a 10.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 41,664 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the sale, the insider owned 152,439 shares in the company, valued at approximately $11,513,717.67. This trade represents a 21.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 287,547 shares of company stock worth $23,031,029 over the last ninety days. Company insiders own 11.01% of the company's stock.

Hedge Funds Weigh In On Affirm

Several hedge funds have recently modified their holdings of AFRM. Syntegra Private Wealth Group LLC acquired a new position in shares of Affirm during the 1st quarter worth approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Affirm in the first quarter valued at $34,000. Ascentis Independent Advisors acquired a new position in shares of Affirm in the first quarter valued at $41,000. Osbon Capital Management LLC bought a new position in shares of Affirm in the fourth quarter valued at about $49,000. Finally, Oslo Pensjonsforsikring AS bought a new position in shares of Affirm in the first quarter valued at about $66,000. Institutional investors own 69.29% of the company's stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.

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