Affirm (NASDAQ:AFRM – Get Free Report)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a report issued on Wednesday,Benzinga reports.
A number of other research firms have also recently weighed in on AFRM. Deutsche Bank Aktiengesellschaft upped their price target on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, October 8th. JMP Securities upgraded shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a research report on Friday, December 20th. Finally, William Blair started coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.88.
Check Out Our Latest Report on Affirm
Affirm Stock Down 0.6 %
Affirm (NASDAQ:AFRM – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share 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 for the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the company posted ($0.57) EPS. On average, sell-side analysts predict that Affirm will post -0.62 EPS for the current fiscal year.
Insider Buying and Selling at Affirm
In other news, COO Michael Linford sold 400,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now owns 85,420 shares in the company, valued at approximately $5,893,125.80. The trade was a 82.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,323,478 shares of company stock worth $86,285,371 in the last quarter. 12.41% of the stock is owned by insiders.
Hedge Funds Weigh In On Affirm
Several hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Affirm by 2.8% in the second quarter. American Century Companies Inc. now owns 93,171 shares of the company’s stock worth $2,815,000 after buying an additional 2,538 shares during the period. Renaissance Technologies LLC acquired a new stake in Affirm in the second quarter valued at approximately $3,516,000. Sei Investments Co. raised its stake in shares of Affirm by 33.2% during the second quarter. Sei Investments Co. now owns 54,993 shares of the company’s stock valued at $1,661,000 after purchasing an additional 13,698 shares during the period. Bank of Montreal Can lifted its position in shares of Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after purchasing an additional 187,790 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in shares of Affirm in the second quarter worth about $415,000. Institutional investors and hedge funds 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.
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