Affirm’s (AFRM) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Affirm (NASDAQ:AFRM) in a research note published on Wednesday morning,Benzinga reports.

A number of other equities research analysts have also commented on AFRM. Royal Bank Of Canada reissued a “sector perform” rating and issued a $70.00 price target on shares of Affirm in a research report on Thursday, June 5th. Morgan Stanley lowered their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Citigroup reissued an “overweight” rating on shares of Affirm in a research report on Monday. TD Cowen started coverage on Affirm in a research report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price target on Affirm from $74.00 to $69.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $65.67.

Affirm Trading Up 1.0%

NASDAQ AFRM opened at $69.04 on Wednesday. The company has a market cap of $22.27 billion, a price-to-earnings ratio of -328.74, a P/E/G ratio of 2.42 and a beta of 3.63. Affirm has a 52 week low of $22.25 and a 52 week high of $82.53. The business has a 50 day moving average price of $56.76 and a 200-day moving average price of $56.41. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.43) earnings per share. As a group, equities analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. This represents a 6.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,089 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the transaction, the director owned 29,343 shares of the company’s stock, valued at $1,496,493. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,343 shares of company stock worth $1,023,531. 11.82% of the stock is owned by company insiders.

Institutional Trading of Affirm

A number of institutional investors have recently added to or reduced their stakes in AFRM. Durable Capital Partners LP lifted its holdings in Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after purchasing an additional 2,888,827 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Affirm by 140.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock valued at $205,350,000 after buying an additional 2,657,074 shares in the last quarter. Norges Bank purchased a new position in shares of Affirm during the 4th quarter valued at about $139,949,000. Capital International Investors purchased a new position in shares of Affirm during the 4th quarter valued at about $100,030,000. Finally, Vanguard Group Inc. grew its position in Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock worth $1,051,707,000 after acquiring an additional 1,457,434 shares during the last quarter. Hedge funds and other 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.