Affirm (NASDAQ:AFRM) Cut to “Neutral” at Susquehanna

Susquehanna cut shares of Affirm (NASDAQ:AFRM) from a positive rating to a neutral rating in a report released on Tuesday, Marketbeat reports. Susquehanna currently has $57.00 target price on the stock.

A number of other brokerages have also recently weighed in on AFRM. Bank of America lifted their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and boosted their price target for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Mizuho increased their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Barclays boosted their target price on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Affirm Price Performance

NASDAQ AFRM opened at $56.76 on Tuesday. The company has a 50-day moving average price of $64.09 and a two-hundred day moving average price of $46.83. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of -39.97 and a beta of 3.67. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the company posted ($0.57) EPS. Analysts forecast that Affirm will post -0.62 EPS for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the sale, the president now directly owns 160,601 shares in the company, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the transaction, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This trade represents a 82.40 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,323,478 shares of company stock valued at $86,285,371. 12.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several institutional investors have recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new stake in Affirm in the 3rd quarter worth approximately $29,000. Geneos Wealth Management Inc. increased its stake in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Affirm during the fourth quarter worth $33,000. Advisors Asset Management Inc. boosted its position in Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.