Affirm (NASDAQ:AFRM) Earns Hold Rating from Needham & Company LLC

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating reissued by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports.

Other equities analysts have also recently issued reports about the company. Wedbush reaffirmed an “underperform” rating and set a $20.00 price objective on shares of Affirm in a report on Friday, February 9th. Stephens lifted their price objective on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Affirm from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. The Goldman Sachs Group boosted their price target on Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, BMO Capital Markets boosted their price target on Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.86.

Affirm Trading Down 2.1 %

NASDAQ AFRM opened at $32.08 on Tuesday. The stock has a market capitalization of $9.84 billion, a P/E ratio of -12.88 and a beta of 3.57. Affirm has a 52-week low of $8.80 and a 52-week high of $52.48. The firm has a 50-day moving average price of $35.53 and a 200 day moving average price of $34.92. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. The firm had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. Equities research analysts expect that Affirm will post -2.45 EPS for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

Institutional investors have recently added to or reduced their stakes in the company. Myecfo LLC boosted its position in shares of Affirm by 24.2% in the first quarter. Myecfo LLC now owns 10,995 shares of the company’s stock worth $410,000 after buying an additional 2,144 shares during the period. State of Michigan Retirement System purchased a new stake in shares of Affirm in the first quarter worth about $1,002,000. Omega Financial Group LLC lifted its stake in shares of Affirm by 21.5% in the first quarter. Omega Financial Group LLC now owns 93,568 shares of the company’s stock worth $3,486,000 after acquiring an additional 16,528 shares in the last quarter. RJA Asset Management LLC acquired a new position in shares of Affirm in the first quarter worth about $14,808,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Affirm in the first quarter worth about $749,000. 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.