Affirm (NASDAQ:AFRM) Rating Reiterated by JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday, Benzinga reports.

Several other brokerages have also recently commented on AFRM. Royal Bank of Canada increased their target price on shares of Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, February 9th. BMO Capital Markets raised their price objective on Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a report 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 report on Friday, February 9th. Stephens increased their price target on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Tuesday, April 23rd. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.58.

Affirm Stock Up 10.2 %

Shares of AFRM stock opened at $34.81 on Wednesday. The company has a market capitalization of $10.68 billion, a price-to-earnings ratio of -13.98 and a beta of 3.56. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. Affirm has a 12-month low of $11.57 and a 12-month high of $52.48. The firm has a fifty day moving average of $34.54 and a 200-day moving average of $35.93.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.27. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Affirm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.69) earnings per share. As a group, equities research analysts predict that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now owns 60,000 shares in the company, valued at approximately $1,927,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Institutional investors have recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new stake in shares of Affirm during the fourth quarter worth $25,000. Creative Financial Designs Inc. ADV grew 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 purchasing an additional 300 shares in the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the fourth quarter worth approximately $33,000. Global Wealth Strategies & Associates raised its position in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Affirm in the fourth quarter valued at approximately $49,000. 69.29% 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.