Affirm (NASDAQ:AFRM) Receives “Hold” Rating from Needham & Company LLC

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

A number of other equities analysts also recently commented on AFRM. JPMorgan Chase & Co. raised their target price on shares of Affirm from $35.00 to $41.00 and gave the company a neutral rating in a research note on Friday, February 9th. Stephens raised their target price on shares of Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research note on Friday, February 9th. Wedbush reaffirmed an underperform rating and set a $20.00 price target on shares of Affirm in a research note on Friday, February 9th. Barclays dropped their price target on shares of Affirm from $50.00 to $41.00 and set an overweight rating on the stock in a research note on Tuesday, April 16th. Finally, BMO Capital Markets lifted their price target on shares of Affirm from $44.00 to $47.00 and gave the stock a market perform rating in a research note on Monday, February 12th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $27.86.

Affirm Stock Up 2.5 %

Shares of NASDAQ AFRM opened at $32.76 on Tuesday. Affirm has a 1 year low of $8.80 and a 1 year high of $52.48. The firm’s 50 day moving average price is $35.71 and its 200 day moving average price is $34.94. The firm has a market cap of $10.05 billion, a P/E ratio of -13.16 and a beta of 3.58. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49.

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

Insider Transactions at Affirm

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AFRM. Creative Financial Designs Inc. ADV raised its position in shares of Affirm by 82.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after buying an additional 300 shares in the last quarter. Global Wealth Strategies & Associates raised its position in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after buying an additional 470 shares in the last quarter. Treasurer of the State of North Carolina raised its position in shares of Affirm by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after buying an additional 480 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of Affirm during the 4th quarter worth about $25,000. Finally, Signaturefd LLC raised its position in shares of Affirm by 9.0% during the 3rd quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock worth $136,000 after buying an additional 528 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.