Affirm’s (AFRM) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Affirm (NASDAQ:AFRM) in a research report released on Tuesday, Benzinga reports.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Affirm from $35.00 to $41.00 and gave the company a neutral rating in a report on Friday, February 9th. Royal Bank of Canada upped their price objective on shares of Affirm from $26.00 to $50.00 and gave the company a sector perform rating in a research report on Friday, February 9th. Wedbush reaffirmed an underperform rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Barclays cut their price objective on shares of Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research report on Tuesday, April 16th. Finally, Stephens upped their price objective on shares of Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research report on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $27.86.

Affirm Trading Down 1.3 %

Shares of NASDAQ:AFRM opened at $31.65 on Tuesday. The stock has a market capitalization of $9.71 billion, a PE ratio of -12.71 and a beta of 3.57. Affirm has a 1 year low of $8.80 and a 1 year high of $52.48. The firm has a fifty day moving average price of $35.33 and a 200 day moving average price of $34.90. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The company had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. Analysts expect that Affirm will post -2.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $34.39, for a total transaction of $319,001.64. Following the sale, the director now directly owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently modified their holdings of AFRM. Counterpoint Mutual Funds LLC acquired a new stake in shares of Affirm in the third quarter valued at approximately $138,000. Harbor Capital Advisors Inc. grew its holdings in Affirm by 44.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock worth $3,204,000 after acquiring an additional 46,509 shares during the period. Kathleen S. Wright Associates Inc. grew its holdings in Affirm by 46.4% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock worth $178,000 after acquiring an additional 2,660 shares during the period. Raymond James & Associates grew its holdings in shares of Affirm by 9.2% in the 3rd quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock valued at $451,000 after buying an additional 1,781 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Affirm by 25.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock valued at $5,910,000 after buying an additional 55,568 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.