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

Needham & Company LLC reiterated their hold rating on shares of Affirm (NASDAQ:AFRM) in a report released on Tuesday morning, Benzinga reports.

Several other analysts also recently commented on the stock. Royal Bank of Canada lifted their target price on shares of Affirm from $26.00 to $50.00 and gave the stock a sector perform rating in a report on Friday, February 9th. Stephens lifted their target price on shares of Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a report on Friday, February 9th. BMO Capital Markets lifted their price objective on shares of Affirm from $44.00 to $47.00 and gave the stock a market perform rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price objective on shares of Affirm from $35.00 to $41.00 and gave the stock a neutral rating in a research note on Friday, February 9th. Finally, Barclays dropped their price objective on shares of Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $27.86.

Affirm Stock Performance

Shares of AFRM opened at $33.33 on Tuesday. The company has a market cap of $10.23 billion, a PE ratio of -13.39 and a beta of 3.57. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The firm has a 50-day moving average of $35.24 and a 200-day moving average of $35.00. Affirm has a one year low of $8.80 and a one year high of $52.48.

Affirm (NASDAQ:AFRM) last announced 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. The business had revenue of $591.11 million during the quarter, compared to the consensus estimate of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. As a group, equities analysts forecast that Affirm will post -2.45 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the transaction, the director now directly owns 78,552 shares in the company, valued at approximately $2,701,403.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in AFRM. Counterpoint Mutual Funds LLC acquired a new position in Affirm during the 3rd quarter worth approximately $138,000. Harbor Capital Advisors Inc. increased its position in Affirm by 44.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock worth $3,204,000 after purchasing an additional 46,509 shares in the last quarter. Kathleen S. Wright Associates Inc. increased its position in Affirm by 46.4% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock worth $178,000 after purchasing an additional 2,660 shares in the last quarter. Raymond James & Associates increased its position in Affirm by 9.2% during the 3rd quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock worth $451,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in Affirm by 25.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock worth $5,910,000 after purchasing an additional 55,568 shares in 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.