JMP Securities Cuts Affirm (NASDAQ:AFRM) Price Target to $75.00

Affirm (NASDAQ:AFRM) had its price target lowered by JMP Securities from $85.00 to $75.00 in a report published on Friday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities research analysts have also issued reports on AFRM. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, February 7th. William Blair started coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an “outperform” rating on the stock. Royal Bank of Canada increased their target price on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Seaport Res Ptn raised shares of Affirm to a “hold” rating in a research note on Monday, March 24th. Finally, Bank of America raised their price target on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Affirm Price Performance

Shares of AFRM opened at $46.44 on Friday. The business’s 50-day moving average is $46.42 and its two-hundred day moving average is $56.81. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The company has a market capitalization of $14.77 billion, a P/E ratio of -71.45 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same period in the prior year, the company posted ($0.43) EPS. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts predict that Affirm will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares in the company, valued at approximately $10,986,000. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the transaction, the director now owns 38,997 shares of the company’s stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,765 shares of company stock valued at $3,094,694 in the last ninety days. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AFRM. Hanseatic Management Services Inc. increased its position in shares of Affirm by 12.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock valued at $109,000 after acquiring an additional 194 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock valued at $2,219,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP increased its holdings in Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares during the last quarter. HB Wealth Management LLC increased its holdings in Affirm by 2.2% in the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company’s stock valued at $518,000 after purchasing an additional 252 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in Affirm by 2.1% in the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock valued at $622,000 after purchasing an additional 280 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.