Affirm (NASDAQ:AFRM) Stock Rating Lowered by Zacks Research

Affirm (NASDAQ:AFRM) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on AFRM. JPMorgan Chase & Co. dropped their price objective on Affirm from $94.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. BMO Capital Markets started coverage on Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price for the company. Cantor Fitzgerald upped their target price on Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Finally, Stephens lowered their target price on Affirm from $75.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.76.

Affirm Price Performance

Shares of AFRM stock opened at $64.28 on Wednesday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm has a twelve month low of $42.10 and a twelve month high of $100.00. The company has a market cap of $21.41 billion, a P/E ratio of 79.36, a P/E/G ratio of 4.44 and a beta of 3.63. The business has a fifty day simple moving average of $51.59 and a 200 day simple moving average of $63.37.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the company earned $0.23 EPS. Affirm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, sell-side analysts forecast that Affirm will post 1.08 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total value of $110,000.00. Following the completion of the sale, the director owned 38,076 shares of the company’s stock, valued at approximately $2,094,180. This represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Royal Bank of Canada increased its stake in shares of Affirm by 2.1% in the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after buying an additional 3,892 shares during the period. Empowered Funds LLC increased its stake in shares of Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after buying an additional 8,014 shares during the period. Focus Partners Wealth acquired a new stake in shares of Affirm in the first quarter valued at about $243,000. EverSource Wealth Advisors LLC increased its stake in shares of Affirm by 18.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after buying an additional 427 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Affirm by 44.8% in the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after buying an additional 59,297 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.