Affirm (NASDAQ:AFRM) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Affirm (NASDAQ:AFRM) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also commented on AFRM. Wells Fargo & Company initiated coverage on Affirm in a research note on Tuesday, October 21st. They set an “overweight” rating and a $89.00 price target for the company. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Citigroup upgraded Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group reduced their price target on shares of Affirm from $105.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Bank of America increased their price objective on shares of Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $86.57.

Affirm Stock Performance

AFRM opened at $80.80 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The stock has a market capitalization of $26.67 billion, a price-to-earnings ratio of 120.60, a PEG ratio of 3.36 and a beta of 3.57. The company has a fifty day moving average of $71.49 and a 200 day moving average of $73.71. Affirm has a fifty-two week low of $30.90 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.11 by $0.12. The business had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. As a group, sell-side analysts forecast that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 8,189 shares of Affirm stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total transaction of $573,230.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $95,760. The trade was a 85.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Affirm by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock valued at $1,784,545,000 after purchasing an additional 223,258 shares during the last quarter. Durable Capital Partners LP boosted its position in shares of Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after buying an additional 808,455 shares during the period. State Street Corp boosted its position in shares of Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after buying an additional 1,187,665 shares during the period. Geode Capital Management LLC boosted its position in shares of Affirm by 5.8% during the second quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock valued at $322,195,000 after buying an additional 254,359 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after buying an additional 3,234,260 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.