Affirm (NASDAQ:AFRM) Now Covered by Loop Capital

by · The Markets Daily

Loop Capital started coverage on shares of Affirm (NASDAQ:AFRM – Free Report) in a report issued on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $105.00 target price on the stock.

Several other brokerages have also issued reports on AFRM. Bank of America lifted their target price on shares of Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Truist Financial raised their price objective on shares of Affirm from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Needham & Company LLC lifted their price objective on shares of Affirm from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, August 28th. The Goldman Sachs Group upped their target price on shares of Affirm from $106.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 31st. Finally, Wolfe Research reissued an “outperform” rating on shares of Affirm in a research note on Friday, August 28th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.33.

Check Out Our Latest Analysis on Affirm

Affirm Price Performance

NASDAQ:AFRM opened at $68.15 on Wednesday. The firm has a market capitalization of $23.00 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 2.95 and a beta of 3.61. Affirm has a 52-week low of $42.10 and a 52-week high of $92.56. The stock has a fifty day moving average of $76.50 and a 200 day moving average of $65.75. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80.

Affirm (NASDAQ:AFRM – Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 EPS. On average, research analysts expect that Affirm will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction on 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 directly owned 152,439 shares of the company’s stock, valued at $11,513,717.67. The trade was a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 79,219 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the sale, the chief operating officer owned 120,713 shares of the company’s stock, valued at approximately $10,865,377.13. The trade was a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 287,547 shares of company stock valued at $23,031,029 over the last three months. Insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of AFRM. Greenline Wealth Management LLC purchased a new position in shares of Affirm in the fourth quarter valued at about $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm in the first quarter worth about $28,000. Triumph Capital Management bought a new stake in shares of Affirm in the third quarter worth about $31,000. Strive Financial Group LLC purchased a new position in Affirm during the 4th quarter valued at about $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Affirm during the 1st quarter valued at about $34,000. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

(Get Free Report)

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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