Affirm (NASDAQ:AFRM) Stock Rating Reaffirmed by Needham & Company LLC

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

Several other brokerages also recently issued reports on AFRM. The Goldman Sachs Group boosted their target price on shares of Affirm from $18.00 to $20.00 and gave the company a neutral rating in a research note on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $35.00 to $41.00 and gave the company a neutral rating in a report on Friday, February 9th. BMO Capital Markets boosted their price target on shares of Affirm from $44.00 to $47.00 and gave the company a market perform rating in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affirm from $24.00 to $35.00 and gave the company a hold rating in a report on Friday, February 9th. Finally, Royal Bank of Canada boosted their price target on shares of Affirm from $26.00 to $50.00 and gave the company a sector perform rating in a report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Affirm presently has a consensus rating of Hold and a consensus target price of $27.86.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $33.33 on Tuesday. The company’s fifty day moving average is $35.24 and its two-hundred day moving average is $35.00. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. Affirm has a 12-month low of $8.80 and a 12-month high of $52.48. The company has a market cap of $10.23 billion, a P/E ratio of -13.39 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last announced its earnings results 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. 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 the consensus estimate of $523.92 million. Equities analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction 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 transaction, the director now owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Planned Solutions Inc. acquired a new position in shares of Affirm during the fourth quarter valued at about $25,000. Creative Financial Designs Inc. ADV raised its position in shares of Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after buying an additional 300 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Affirm during the fourth quarter valued at about $33,000. Global Wealth Strategies & Associates raised its position in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Affirm in the fourth quarter worth about $49,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.