Affirm (NASDAQ:AFRM) Downgraded to Neutral Rating by Susquehanna

Affirm (NASDAQ:AFRM) was downgraded by equities research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. They presently have a $57.00 price objective on the stock. Susquehanna’s price objective suggests a potential downside of 1.71% from the company’s previous close.

A number of other research firms also recently weighed in on AFRM. JPMorgan Chase & Co. lifted their price target on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, Bank of America increased their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Affirm Stock Down 0.0 %

Shares of AFRM opened at $57.99 on Tuesday. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34. The firm has a market capitalization of $18.21 billion, a P/E ratio of -40.84 and a beta of 3.67. The company has a 50-day simple moving average of $64.00 and a 200-day simple moving average of $46.49. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted ($0.57) EPS. On average, equities research analysts expect that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. The trade was a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,323,478 shares of company stock worth $86,285,371. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AFRM. ORG Wealth Partners LLC acquired a new position in Affirm in the third quarter valued at approximately $29,000. Advisors Asset Management Inc. raised its position in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Affirm by 200.5% in the 3rd 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 during the period. Hanseatic Management Services Inc. bought a new position in shares of Affirm in the 3rd quarter worth $65,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Affirm during the third quarter worth $78,000. 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.