Affirm (NASDAQ:AFRM) Upgraded at Susquehanna

Susquehanna upgraded shares of Affirm (NASDAQ:AFRM - Free Report) from a neutral rating to a positive rating in a report issued on Friday, MarketBeat.com reports. Susquehanna currently has $65.00 target price on the stock.

Several other research analysts have also commented on AFRM. Morgan Stanley reduced their price target on Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC reiterated a "hold" rating on shares of Affirm in a report on Friday, February 7th. Seaport Res Ptn upgraded Affirm to a "hold" rating in a report on Monday, March 24th. UBS Group boosted their price objective on shares of Affirm from $46.00 to $62.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Compass Point upgraded shares of Affirm from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $61.00 to $64.00 in a report on Wednesday, March 19th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Affirm has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Price Performance

AFRM stock traded up $7.33 during midday trading on Friday, reaching $53.74. The stock had a trading volume of 19,769,214 shares, compared to its average volume of 8,486,593. The company's fifty day simple moving average is $46.32 and its 200 day simple moving average is $56.90. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The company has a market cap of $17.09 billion, a price-to-earnings ratio of -82.68 and a beta of 3.66. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53.

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

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 16,089 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director now directly owns 29,343 shares in the company, valued at $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at $10,986,000. The trade was a 3.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,765 shares of company stock worth $3,094,694 over the last three months. Company insiders own 12.41% of the company's stock.

Institutional Trading of Affirm

A number of large investors have recently made changes to their positions in the company. Independent Advisor Alliance increased its stake in shares of Affirm by 3.6% during the first quarter. Independent Advisor Alliance now owns 18,681 shares of the company's stock worth $844,000 after buying an additional 657 shares during the period. Nuveen LLC purchased a new stake in shares of Affirm during the first quarter worth approximately $27,061,000. Virtu Financial LLC purchased a new stake in shares of Affirm during the first quarter worth approximately $659,000. White Lighthouse Investment Management Inc. increased its stake in shares of Affirm by 13.1% during the first quarter. White Lighthouse Investment Management Inc. now owns 9,542 shares of the company's stock worth $431,000 after buying an additional 1,103 shares during the period. Finally, Townsquare Capital LLC increased its stake in shares of Affirm by 26.2% during the first quarter. Townsquare Capital LLC now owns 141,756 shares of the company's stock worth $6,406,000 after buying an additional 29,434 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Company Profile

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.