Affirm (NASDAQ:AFRM) Lowered to “Neutral” Rating by Susquehanna

Susquehanna cut shares of Affirm (NASDAQ:AFRM) from a positive rating to a neutral rating in a research note released on Tuesday, MarketBeat.com reports. Susquehanna currently has $57.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America increased their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. The Goldman Sachs Group boosted their price objective on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. JMP Securities raised Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a report on Friday, December 20th. Finally, William Blair assumed coverage on Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.

Affirm Price Performance

Shares of Affirm stock opened at $56.76 on Tuesday. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34. The firm’s 50-day moving average price is $63.99 and its two-hundred day moving average price is $46.69. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of -39.97 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the company earned ($0.57) EPS. On average, equities analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the sale, the director now owns 93,694 shares of the company’s stock, valued at $5,839,010.08. This trade represents a 14.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,323,478 shares of company stock worth $86,285,371. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC acquired a new position in Affirm during the 2nd quarter worth approximately $45,219,000. Artemis Investment Management LLP bought a new stake in shares of Affirm in the third quarter worth $30,808,000. Holocene Advisors LP acquired a new position in Affirm during the third quarter worth $27,872,000. Charles Schwab Investment Management Inc. grew its position in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.