JMP Securities Begins Coverage on Affirm (NASDAQ:AFRM)

JMP Securities assumed coverage on shares of Affirm (NASDAQ:AFRM) in a research report report published on Friday, Marketbeat.com reports. The firm issued a market perform rating on the stock.

Other analysts also recently issued reports about the company. Barclays lowered their price objective on Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada reaffirmed a sector perform rating and set a $43.00 price objective on shares of Affirm in a report on Friday, May 24th. Needham & Company LLC reiterated a hold rating on shares of Affirm in a report on Thursday, May 9th. Mizuho restated a buy rating and set a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Finally, The Goldman Sachs Group reaffirmed a buy rating and issued a $42.00 price objective on shares of Affirm in a research report on Monday, June 24th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Affirm has a consensus rating of Hold and a consensus target price of $32.66.

Affirm Stock Down 0.8 %

Shares of NASDAQ:AFRM opened at $30.21 on Friday. The firm has a market cap of $9.34 billion, a P/E ratio of -13.55 and a beta of 3.47. Affirm has a 52-week low of $12.81 and a 52-week high of $52.48. The business’s 50 day simple moving average is $31.78 and its two-hundred day simple moving average is $37.03. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The business had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same quarter last year, the firm posted ($0.69) EPS. Affirm’s revenue was up 51.2% compared to the same quarter last year. As a group, research analysts forecast that Affirm will post -1.98 EPS for the current fiscal year.

Insider Activity at Affirm

In other news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AFRM. Creative Financial Designs Inc. ADV lifted its holdings in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after buying an additional 300 shares in the last quarter. Global Wealth Strategies & Associates grew its position in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Affirm by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after purchasing an additional 480 shares during the period. Planned Solutions Inc. purchased a new stake in shares of Affirm in the fourth quarter worth $25,000. Finally, Raleigh Capital Management Inc. bought a new stake in Affirm during the fourth quarter valued at $33,000. 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.