Affirm (NASDAQ:AFRM) Receives Hold Rating from Needham & Company LLC

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

Several other equities analysts have also issued reports on the company. The Goldman Sachs Group boosted their price target on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Morgan Stanley raised their price objective on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Compass Point upgraded shares of Affirm from a “sell” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $61.00 in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Affirm Stock Performance

Shares of AFRM stock opened at $75.22 on Friday. The firm has a market cap of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. The stock’s 50-day moving average is $63.09 and its two-hundred day moving average is $49.18. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $76.88.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. Analysts predict that Affirm will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the transaction, the director now owns 77,608 shares of the company’s stock, valued at $4,665,792.96. This represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Libor Michalek sold 6,629 shares of Affirm stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the sale, the president now owns 160,601 shares in the company, valued at $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,339,564 shares of company stock worth $87,252,461. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Affirm by 2.5% during the 2nd quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock worth $880,000 after buying an additional 722 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Affirm by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after purchasing an additional 3,105 shares in the last quarter. LifePro Asset Management acquired a new position in shares of Affirm during the 3rd quarter worth approximately $2,078,000. ORG Wealth Partners LLC bought a new stake in Affirm during the third quarter worth $29,000. Finally, Kathleen S. Wright Associates Inc. lifted its stake in Affirm by 27.6% in the third quarter. Kathleen S. Wright Associates Inc. now owns 5,210 shares of the company’s stock valued at $213,000 after acquiring an additional 1,128 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.