Affirm (NASDAQ:AFRM) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Affirm (NASDAQ:AFRM) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Affirm Holdings is an emerging growth company. They are building the next generation platform for digital and mobile-first commerce. They believe they can reinvent the payment experience. Their platform is comprised of three core elements: a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. “

Several other research analysts have also recently commented on the company. Royal Bank of Canada reduced their price target on Affirm from $175.00 to $127.00 and set an outperform rating for the company in a research report on Friday, January 7th. Jefferies Financial Group increased their price target on Affirm from $82.00 to $110.00 and gave the company a hold rating in a research report on Wednesday, September 29th. They noted that the move was a valuation call. Truist reduced their price target on Affirm from $185.00 to $150.00 in a research report on Monday, January 10th. Piper Sandler reduced their price target on Affirm from $127.00 to $108.00 in a research report on Thursday, December 23rd. Finally, Mizuho reduced their price target on Affirm from $180.00 to $140.00 and set a buy rating for the company in a research report on Tuesday, December 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $138.13.

AFRM stock opened at $69.19 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.54 and a quick ratio of 2.54. The stock has a market capitalization of $19.44 billion and a P/E ratio of -22.18. The business has a 50-day moving average of $113.34 and a 200-day moving average of $103.21. Affirm has a fifty-two week low of $46.50 and a fifty-two week high of $176.65.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Wednesday, November 10th. The company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.83). The firm had revenue of $269.39 million for the quarter, compared to analyst estimates of $250.75 million. Affirm had a negative return on equity of 24.86% and a negative net margin of 73.88%. Equities analysts expect that Affirm will post -2.42 EPS for the current year.

In other Affirm news, CFO Michael Linford sold 115,000 shares of the firm’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $153.90, for a total transaction of $17,698,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith Rabois sold 18,704 shares of the firm’s stock in a transaction on Monday, January 3rd. The stock was sold at an average price of $96.34, for a total value of $1,801,943.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,768 shares of company stock worth $26,645,962. 16.48% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Northern Oak Wealth Management Inc. bought a new position in Affirm during the 2nd quarter worth $27,000. IFP Advisors Inc bought a new position in Affirm during the 3rd quarter worth $27,000. NEXT Financial Group Inc bought a new position in Affirm during the 3rd quarter worth $27,000. Benjamin F. Edwards & Company Inc. bought a new position in Affirm during the 3rd quarter worth $32,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Affirm by 898.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 499 shares of the company’s stock valued at $34,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 40.61% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.

Further Reading: Quiet Period Expirations Explained

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