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

Needham & Company LLC reiterated their hold rating on shares of Affirm (NASDAQ:AFRM) in a research note released on Wednesday,Benzinga reports.

AFRM has been the topic of a number of other reports. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Wells Fargo & Company lifted their price objective on shares of Affirm from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.88.

Affirm Stock Performance

NASDAQ AFRM opened at $56.44 on Wednesday. The company has a fifty day moving average price of $64.02 and a 200-day moving average price of $46.76. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of -39.75 and a beta of 3.67. 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 1 year low of $22.25 and a 1 year 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. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the prior year, the firm posted ($0.57) EPS. As a group, equities research analysts predict that Affirm will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. Also, President Libor Michalek sold 6,629 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $72.08, for a total value of $477,818.32. Following the completion of the sale, the president now directly owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,323,478 shares of company stock worth $86,285,371 over the last ninety days. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Affirm during the fourth quarter valued at about $33,000. Foundations Investment Advisors LLC purchased a new stake in Affirm in the 4th quarter worth approximately $247,000. KBC Group NV grew its position in shares of Affirm by 53.2% in the 4th quarter. KBC Group NV now owns 9,698 shares of the company’s stock worth $591,000 after buying an additional 3,367 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Affirm by 299.7% during the fourth quarter. Blue Trust Inc. now owns 3,118 shares of the company’s stock valued at $190,000 after buying an additional 2,338 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 410 shares in the last quarter. 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.