JPMorgan Chase & Co. Reiterates “Neutral” Rating for Affirm (NASDAQ:AFRM)

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

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada boosted their price target on shares of Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, February 9th. The Goldman Sachs Group boosted their price target on shares of Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. BMO Capital Markets boosted their price objective on shares of Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 12th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Tuesday. Finally, Wedbush reiterated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Six 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $27.86.

Affirm Trading Down 2.1 %

Shares of NASDAQ AFRM opened at $32.08 on Tuesday. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. Affirm has a 1 year low of $8.80 and a 1 year high of $52.48. The stock has a market cap of $9.84 billion, a P/E ratio of -12.88 and a beta of 3.57. The firm has a 50-day moving average of $35.53 and a 200 day moving average of $34.92.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $591.11 million for the quarter, compared to the consensus estimate of $523.92 million. As a group, sell-side analysts expect that Affirm will post -2.45 EPS for the current fiscal year.

Insider Activity

In other 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 transaction, the director now owns 78,552 shares in the company, valued at $2,701,403.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Counterpoint Mutual Funds LLC acquired a new stake in shares of Affirm during the 3rd quarter worth approximately $138,000. Harbor Capital Advisors Inc. lifted its position in shares of Affirm by 44.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock valued at $3,204,000 after buying an additional 46,509 shares in the last quarter. Kathleen S. Wright Associates Inc. lifted its position in shares of Affirm by 46.4% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock valued at $178,000 after buying an additional 2,660 shares in the last quarter. Raymond James & Associates lifted its holdings in 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 purchasing an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in 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 purchasing an additional 55,568 shares in the last quarter. 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.