Affirm Holdings, Inc. (NASDAQ:AFRM) Given Consensus Recommendation of “Reduce” by Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has been assigned a consensus rating of “Reduce” from the eighteen ratings firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $29.09.

Several research firms have recently weighed in on AFRM. Barclays decreased their target price on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $41.00 to $43.00 in a research report on Thursday, May 9th. BMO Capital Markets decreased their target price on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $43.00 target price on shares of Affirm in a research report on Friday, May 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Thursday, May 9th.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the sale, the director now owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Affirm in the fourth quarter valued at approximately $67,310,000. Vanguard Group Inc. lifted its holdings in Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after acquiring an additional 1,316,901 shares during the period. Leo Wealth LLC acquired a new position in Affirm in the fourth quarter valued at approximately $57,647,000. Baillie Gifford & Co. lifted its holdings in Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after acquiring an additional 749,368 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Affirm in the first quarter valued at approximately $20,150,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 7.6 %

Shares of AFRM opened at $30.90 on Monday. The company has a market cap of $9.55 billion, a PE ratio of -13.86 and a beta of 3.47. The business has a fifty day moving average of $32.06 and a 200 day moving average of $37.58. Affirm has a 52-week low of $12.81 and a 52-week high of $52.48. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same period last year, the company earned ($0.69) earnings per share. Affirm’s revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts expect that Affirm will post -1.98 EPS for the current year.

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.