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 report published on Wednesday,Benzinga reports.

A number of other research firms have also recently weighed in on AFRM. Susquehanna cut shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Tuesday. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating for the company. The Goldman Sachs Group upped their price target on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, JMP Securities raised Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.88.

Affirm Stock Performance

NASDAQ:AFRM opened at $55.73 on Wednesday. The company has a market capitalization of $17.50 billion, a PE ratio of -39.25 and a beta of 3.67. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The company has a 50 day simple moving average of $64.08 and a two-hundred day simple moving average of $47.02.

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

Insider Activity

In other news, President Libor Michalek sold 6,629 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the sale, the president now directly owns 160,601 shares in the company, valued at approximately $11,576,120.08. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the sale, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,323,478 shares of company stock valued at $86,285,371. 12.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Several large investors have recently modified their holdings of AFRM. Hanseatic Management Services Inc. grew its stake in Affirm by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after buying an additional 194 shares during the last quarter. KBC Group NV boosted its holdings in Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after acquiring an additional 233 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in shares of Affirm by 7.0% during the fourth quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock valued at $334,000 after acquiring an additional 357 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares during the last quarter. Institutional investors 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.