Affirm (NASDAQ:AFRM) Rating Reiterated by Needham & Company LLC

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

A number of other research firms also recently issued reports on AFRM. Royal Bank of Canada upped their price target on shares of Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and upped their target price for the company from $41.00 to $43.00 in a research report on Thursday. Wedbush reiterated an “underperform” rating and issued a $20.00 price target on shares of Affirm in a research report on Friday, February 9th. BMO Capital Markets upped their price objective on Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.97.

Affirm Price Performance

Shares of Affirm stock opened at $31.58 on Thursday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -12.68 and a beta of 3.56. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. The stock’s 50-day simple moving average is $34.60 and its 200-day simple moving average is $35.93. Affirm has a 52 week low of $11.54 and a 52 week high of $52.48.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The company’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted ($0.69) EPS. As a group, analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV boosted its holdings in shares of Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after buying an additional 300 shares in the last quarter. Global Wealth Strategies & Associates boosted its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares in the last quarter. Treasurer of the State of North Carolina boosted its stake in Affirm by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock valued at $2,032,000 after acquiring an additional 480 shares in the last quarter. Planned Solutions Inc. purchased a new position in Affirm in the fourth quarter worth $25,000. Finally, Signaturefd LLC increased its position in shares of Affirm by 9.0% during the third quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock worth $136,000 after purchasing an additional 528 shares in 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.