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

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

Several other brokerages also recently issued reports on AFRM. BMO Capital Markets raised their price target on Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, February 12th. Stephens lifted their price target on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. The Goldman Sachs Group lifted their price objective on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Wedbush reaffirmed an “underperform” rating and issued a $20.00 price objective on shares of Affirm in a research note on Friday, February 9th. Finally, Barclays cut their price objective on Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Affirm currently has a consensus rating of “Hold” and a consensus target price of $27.86.

Affirm Stock Down 2.1 %

Shares of NASDAQ AFRM opened at $32.08 on Tuesday. The firm’s 50-day simple moving average is $35.53 and its 200 day simple moving average is $34.92. The company has a market cap of $9.84 billion, a price-to-earnings ratio of -12.88 and a beta of 3.57. 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 $8.80 and a 12-month high of $52.48.

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

Insider Transactions at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was 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 owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 13.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Myecfo LLC boosted its position in shares of Affirm by 24.2% during the 1st quarter. Myecfo LLC now owns 10,995 shares of the company’s stock valued at $410,000 after acquiring an additional 2,144 shares during the last quarter. State of Michigan Retirement System bought a new stake in shares of Affirm during the 1st quarter valued at about $1,002,000. Omega Financial Group LLC boosted its position in shares of Affirm by 21.5% during the 1st quarter. Omega Financial Group LLC now owns 93,568 shares of the company’s stock valued at $3,486,000 after acquiring an additional 16,528 shares during the last quarter. RJA Asset Management LLC bought a new stake in shares of Affirm during the 1st quarter valued at about $14,808,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Affirm during the 1st quarter valued at about $749,000. Institutional investors own 69.29% of the company’s stock.

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.