Susquehanna Begins Coverage on Affirm (NASDAQ:AFRM)

Susquehanna began coverage on shares of Affirm (NASDAQ:AFRM) in a report issued on Friday, Marketbeat reports. The firm issued a positive rating and a $52.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group reiterated a buy rating and issued a $42.00 price target on shares of Affirm in a research note on Monday, June 24th. Royal Bank of Canada boosted their price objective on shares of Affirm from $43.00 to $46.00 and gave the company a sector perform rating in a research report on Thursday, August 29th. Barclays raised their price target on Affirm from $41.00 to $50.00 and gave the stock an overweight rating in a report on Friday, August 30th. BTIG Research initiated coverage on Affirm in a research note on Friday, June 7th. They set a neutral rating for the company. Finally, JPMorgan Chase & Co. raised their target price on Affirm from $43.00 to $45.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affirm has a consensus rating of Hold and an average target price of $35.31.

Affirm Stock Performance

NASDAQ AFRM opened at $44.93 on Friday. Affirm has a 1-year low of $15.97 and a 1-year high of $52.48. The business’s 50-day simple moving average is $33.02 and its 200-day simple moving average is $32.72. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The firm has a market capitalization of $13.89 billion, a P/E ratio of -20.15 and a beta of 3.51.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. The firm had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. Equities analysts predict that Affirm will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares in the company, valued at approximately $4,117,455. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the transaction, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The disclosure for this sale can be found here. Insiders have sold 121,351 shares of company stock worth $5,081,045 in the last ninety days. 13.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. purchased a new stake in shares of Affirm during the first quarter worth $258,000. Principal Financial Group Inc. boosted its holdings in shares of Affirm by 34.3% during the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock worth $710,000 after buying an additional 4,868 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Affirm in the 1st quarter valued at $265,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Affirm by 19.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after acquiring an additional 30,500 shares during the period. Hedge funds and other institutional investors 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.