Affirm (NASDAQ:AFRM) Upgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley upgraded shares of Affirm (NASDAQ:AFRM) from an underweight rating to an equal weight rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have $37.00 price target on the stock, up from their previous price target of $22.00.

AFRM has been the topic of a number of other reports. Bank of America increased their target price on shares of Affirm from $36.00 to $42.00 and gave the stock a buy rating in a report on Thursday, August 29th. Susquehanna initiated coverage on Affirm in a report on Friday, September 20th. They issued a positive rating and a $52.00 target price for the company. Royal Bank of Canada restated a sector perform rating and set a $46.00 price target on shares of Affirm in a report on Friday, October 4th. The Goldman Sachs Group reiterated a buy rating and issued a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Finally, Barclays boosted their price target on shares of Affirm from $50.00 to $54.00 and gave the stock an overweight rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Affirm has an average rating of Hold and an average price target of $39.82.

Affirm Price Performance

AFRM stock opened at $47.08 on Wednesday. The business’s fifty day moving average price is $36.84 and its 200 day moving average price is $33.26. Affirm has a 12-month low of $15.97 and a 12-month high of $52.48. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $14.65 billion, a PE ratio of -28.02 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, sell-side analysts anticipate that Affirm will post -0.82 EPS for the current year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares in the company, valued at approximately $1,730,961.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,075 shares of company stock worth $4,803,786 in the last quarter. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of large investors have recently modified their holdings of AFRM. Dragoneer Investment Group LLC acquired a new position in Affirm during the second quarter worth $45,219,000. Vanguard Group Inc. increased its holdings in shares of Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Affirm in the third quarter valued at about $30,808,000. Baillie Gifford & Co. lifted its stake in shares of Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Affirm during the first quarter worth about $20,150,000. 69.29% of the stock is 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.