Needham & Company LLC Reiterates “Hold” Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a report released on Wednesday,Benzinga reports.

A number of other equities research analysts also recently weighed in on AFRM. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. William Blair initiated coverage on shares of Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. Wells Fargo & Company increased their price objective on shares of Affirm from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Affirm Trading Down 0.6 %

Shares of NASDAQ AFRM opened at $56.44 on Wednesday. The stock has a market capitalization of $17.73 billion, a P/E ratio of -39.75 and a beta of 3.67. The stock’s 50 day moving average price is $64.02 and its two-hundred day moving average price is $46.76. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the business posted ($0.57) earnings per share. On average, analysts anticipate that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, COO Michael Linford sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This trade represents a 82.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 1,323,478 shares of company stock valued at $86,285,371 over the last 90 days. 12.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC purchased a new position in Affirm in the 3rd quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares in the last quarter. R Squared Ltd acquired a new stake in Affirm during the 4th quarter valued at $33,000. Advisors Asset Management Inc. lifted its holdings in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.