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

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

Several other brokerages have also commented on AFRM. 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 report on Friday, February 9th. Wedbush reaffirmed an underperform rating and issued a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Royal Bank of Canada lifted their price objective on shares of Affirm from $26.00 to $50.00 and gave the stock a sector perform rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affirm from $24.00 to $35.00 and gave the stock a hold rating in a research report on Friday, February 9th. Finally, Stephens lifted their price objective on shares of Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has a consensus rating of Hold and a consensus price target of $27.86.

Affirm Stock Down 1.3 %

AFRM opened at $31.65 on Tuesday. 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 company’s 50-day moving average is $35.33 and its 200 day moving average is $34.90. Affirm has a fifty-two week low of $8.80 and a fifty-two week high of $52.48. The firm has a market capitalization of $9.71 billion, a P/E ratio of -12.71 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The company had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Research analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the 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 sale, the director now directly owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AFRM. Counterpoint Mutual Funds LLC purchased a new position in shares of Affirm in the third quarter valued at $138,000. Harbor Capital Advisors Inc. grew its holdings in shares of Affirm by 44.7% in the third quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock valued at $3,204,000 after purchasing an additional 46,509 shares in the last quarter. Kathleen S. Wright Associates Inc. grew its holdings in shares of Affirm by 46.4% in the third quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock valued at $178,000 after purchasing an additional 2,660 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Affirm by 9.2% in the third quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock valued at $451,000 after purchasing an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Affirm by 25.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock valued at $5,910,000 after purchasing an additional 55,568 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

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.