Affirm’s (AFRM) “Hold” Rating Reiterated at Needham & Company LLC

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

Several other research firms also recently issued reports on AFRM. William Blair began coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an “outperform” rating for the company. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and lifted their target price for the stock from $70.00 to $82.00 in a report on Thursday, December 19th. Morgan Stanley upped their price target on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. JMP Securities upgraded Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, December 20th. Finally, Wells Fargo & Company upped their target price on Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.00.

Affirm Stock Up 21.8 %

Shares of AFRM opened at $75.22 on Friday. The firm has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $49.18. The company has a market cap of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a one year low of $22.25 and a one year high of $76.88.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. Research analysts forecast that Affirm will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total transaction of $180,125.00. Following the completion of the sale, the director now directly owns 41,497 shares of the company’s stock, valued at $2,989,858.85. The trade was a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Libor Michalek sold 6,629 shares of the company’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 owns 160,601 shares in the company, valued at $11,576,120.08. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,339,564 shares of company stock valued at $87,252,461. Company insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Spyglass Capital Management LLC lifted its stake in Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after acquiring an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Affirm by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock valued at $138,368,000 after purchasing an additional 68,848 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Affirm by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after purchasing an additional 5,169 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Affirm by 2.1% during the fourth quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after purchasing an additional 15,517 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Affirm by 269.7% during the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after purchasing an additional 528,400 shares during the last quarter. Hedge funds and other 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.