Affirm’s (AFRM) Neutral Rating Reaffirmed at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports.

AFRM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Stephens increased their price target on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Tuesday. BMO Capital Markets increased their price objective on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Finally, 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 note 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.86.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded up $0.89 on Tuesday, reaching $32.86. The company’s stock had a trading volume of 6,576,230 shares, compared to its average volume of 9,504,337. Affirm has a 52-week low of $8.80 and a 52-week high of $52.48. 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 stock’s 50-day moving average is $35.85 and its two-hundred day moving average is $34.84. The stock has a market capitalization of $10.08 billion, a P/E ratio of -13.16 and a beta of 3.58.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. The business had revenue of $591.11 million for the quarter, compared to the consensus estimate of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. As a group, sell-side analysts forecast that Affirm will post -2.45 EPS for the current year.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the sale, the director now directly owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Counterpoint Mutual Funds LLC bought a new position in shares of Affirm during the 3rd quarter worth about $138,000. Harbor Capital Advisors Inc. raised its stake in shares of Affirm by 44.7% during the third quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock worth $3,204,000 after buying an additional 46,509 shares during the last quarter. Kathleen S. Wright Associates Inc. raised its stake in shares of Affirm by 46.4% during the third quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock worth $178,000 after buying an additional 2,660 shares during the last quarter. Raymond James & Associates raised its stake in shares of Affirm by 9.2% during the third quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock worth $451,000 after buying an additional 1,781 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in 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. Institutional investors and hedge funds 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.