Affirm (NASDAQ:AFRM) Earns Underperform Rating from Wedbush

Affirm (NASDAQ:AFRM)‘s stock had its “underperform” rating reiterated by research analysts at Wedbush in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $15.00 price objective on the stock. Wedbush’s target price indicates a potential downside of 41.31% from the company’s previous close.

AFRM has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on shares of Affirm from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. JPMorgan Chase & Co. increased their price target on shares of Affirm from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 22nd. Compass Point cut Affirm from a “neutral” rating to a “sell” rating and set a $13.00 price objective on the stock. in a research report on Wednesday, October 25th. Mizuho increased their target price on Affirm from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Finally, Piper Sandler lifted their price target on Affirm from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Thursday, November 9th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.09.

Affirm Price Performance

Shares of Affirm stock opened at $25.56 on Wednesday. The company’s fifty day simple moving average is $20.59 and its two-hundred day simple moving average is $17.35. Affirm has a 12-month low of $8.62 and a 12-month high of $27.16. The firm has a market cap of $7.65 billion, a PE ratio of -8.38 and a beta of 2.95. The company has a quick ratio of 13.25, a current ratio of 13.25 and a debt-to-equity ratio of 2.19.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, November 8th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.65). The business had revenue of $496.55 million during the quarter, compared to the consensus estimate of $444.48 million. Affirm had a negative return on equity of 35.74% and a negative net margin of 52.58%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.86) earnings per share. As a group, equities analysts expect that Affirm will post -0.84 EPS for the current year.

Institutional Trading of Affirm

A number of large investors have recently made changes to their positions in AFRM. Capital Research Global Investors raised its stake in Affirm by 4.8% during the 2nd quarter. Capital Research Global Investors now owns 22,017,350 shares of the company’s stock valued at $337,526,000 after buying an additional 1,007,777 shares during the last quarter. Vanguard Group Inc. raised its holdings in Affirm by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 17,192,315 shares of the company’s stock worth $322,528,000 after purchasing an additional 754,554 shares during the period. Capital World Investors lifted its position in Affirm by 9.5% during the second quarter. Capital World Investors now owns 16,783,050 shares of the company’s stock valued at $257,284,000 after purchasing an additional 1,453,822 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Affirm by 14.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 11,350,295 shares of the company’s stock valued at $204,987,000 after purchasing an additional 1,404,278 shares during the period. Finally, BlackRock Inc. lifted its position in shares of Affirm by 4.9% during the 3rd quarter. BlackRock Inc. now owns 8,877,070 shares of the company’s stock valued at $166,533,000 after buying an additional 415,059 shares in the last quarter. 59.69% of the stock is currently owned by institutional investors.

About Affirm

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.