Raymond James & Associates decreased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,437 shares of the company’s stock after selling 2,502 shares during the quarter. Raymond James & Associates’ holdings in Affirm were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of AFRM. Covestor Ltd bought a new stake in Affirm during the 1st quarter valued at $30,000. American International Group Inc. bought a new position in shares of Affirm in the second quarter worth $33,000. Exchange Traded Concepts LLC bought a new position in shares of Affirm in the second quarter worth $39,000. MetLife Investment Management LLC increased its holdings in shares of Affirm by 23.1% in the fourth quarter. MetLife Investment Management LLC now owns 4,496 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares during the period. Finally, Captrust Financial Advisors increased its holdings in shares of Affirm by 783.6% in the second quarter. Captrust Financial Advisors now owns 3,658 shares of the company’s stock worth $66,000 after purchasing an additional 3,244 shares during the period. Institutional investors own 59.69% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on AFRM. Compass Point cut shares of Affirm from a “neutral” rating to a “sell” rating and set a $13.00 price target on the stock. in a report on Wednesday, October 25th. Wedbush upped their price target on shares of Affirm from $10.00 to $15.00 and gave the stock an “underperform” rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Affirm from $16.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, August 22nd. Morgan Stanley upped their price target on shares of Affirm from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Friday, August 25th. Finally, Wells Fargo & Company increased their target price on Affirm from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.09.
Affirm Stock Performance
NASDAQ AFRM opened at $22.43 on Friday. The company has a 50-day simple moving average of $20.49 and a two-hundred day simple moving average of $17.10. The company has a quick ratio of 11.81, a current ratio of 13.25 and a debt-to-equity ratio of 2.19. Affirm Holdings, Inc. has a 12-month low of $8.62 and a 12-month high of $27.16. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -7.35 and a beta of 2.95.
Affirm (NASDAQ:AFRM – Get Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.65). Affirm had a negative return on equity of 35.74% and a negative net margin of 52.58%. The firm had revenue of $496.55 million for the quarter, compared to analysts’ expectations of $444.48 million. During the same quarter in the prior year, the company posted ($0.86) earnings per share. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. On average, equities analysts forecast that Affirm Holdings, Inc. will post -0.93 EPS for the current year.
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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