Affirm (NASDAQ:AFRM) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Affirm (NASDAQ:AFRM) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $43.00 price target on the stock, up from their previous price target of $41.00.

Several other analysts also recently weighed in on AFRM. BMO Capital Markets lifted their target price on Affirm from $44.00 to $47.00 and gave the company a market perform rating in a research note on Monday, February 12th. The Goldman Sachs Group lifted their target price on Affirm from $18.00 to $20.00 and gave the company a neutral rating in a research note on Friday, February 9th. Wedbush reaffirmed an underperform rating and set a $20.00 target price on shares of Affirm in a research note on Friday, February 9th. Barclays cut their target price on Affirm from $50.00 to $41.00 and set an overweight rating on the stock in a research note on Tuesday, April 16th. Finally, Stephens boosted their price objective on Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Affirm has a consensus rating of Hold and an average target price of $27.53.

Affirm Price Performance

Shares of AFRM opened at $31.59 on Thursday. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of -14.17 and a beta of 3.56. The stock has a 50 day moving average of $34.41 and a 200-day moving average of $36.27. The company has a current ratio of 12.94, a quick ratio of 11.49 and a debt-to-equity ratio of 2.43. Affirm has a 52 week low of $11.57 and a 52 week high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. During the same quarter in the previous year, the firm posted ($0.69) EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, analysts forecast that Affirm will post -2.23 EPS for the current year.

Insider Activity

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the transaction, the director now owns 78,552 shares in the company, valued at $2,701,403.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several large investors have recently added to or reduced their stakes in AFRM. Vanguard Group Inc. boosted its stake in Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors raised its position in shares of Affirm by 1.2% during the fourth quarter. Capital World Investors now owns 19,002,021 shares of the company’s stock worth $933,759,000 after acquiring an additional 218,720 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Affirm by 4.2% in the 1st 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 last quarter. Dimensional Fund Advisors LP raised its position in shares of Affirm by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company’s stock valued at $128,895,000 after acquiring an additional 153,675 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock valued at $67,347,000 after acquiring an additional 72,178 shares during the last quarter. 69.29% of the stock is owned by 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.