Affirm (NASDAQ:AFRM) Stock Rating Reaffirmed by Needham & Company LLC

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

A number of other brokerages also recently issued reports on AFRM. Stephens lifted their price target on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a report on Friday, February 9th. Royal Bank of Canada boosted their target price on Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their target price on Affirm from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Wedbush reaffirmed an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.86.

Affirm Trading Up 2.6 %

Shares of NASDAQ AFRM traded up $0.84 during trading on Tuesday, reaching $32.81. The stock had a trading volume of 5,849,230 shares, compared to its average volume of 9,495,411. Affirm has a fifty-two week low of $8.80 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The business’s 50-day moving average price is $35.85 and its 200-day moving average price is $34.84. The company has a market cap of $10.07 billion, a P/E ratio of -13.18 and a beta of 3.58.

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 return on equity of 25.10% and a negative net margin of 39.19%. The firm had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. On average, equities research analysts predict that Affirm will post -2.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the sale, the director now owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Affirm by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock worth $958,569,000 after purchasing an additional 769,843 shares during the last quarter. Capital World Investors boosted its holdings in shares of Affirm by 1.2% during the fourth quarter. Capital World Investors now owns 19,002,021 shares of the company’s stock worth $933,759,000 after purchasing an additional 218,720 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Affirm by 6.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company’s stock worth $128,895,000 after purchasing an additional 153,675 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after purchasing an additional 72,178 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Affirm during the fourth quarter worth $67,310,000. 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.