Affirm (NASDAQ:AFRM) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Affirm (NASDAQ:AFRM) in a report issued on Tuesday, Benzinga reports.

A number of other equities analysts also recently weighed in on AFRM. Royal Bank of Canada boosted their price target on shares of Affirm from $26.00 to $50.00 and gave the stock a sector perform rating in a report on Friday, February 9th. Barclays cut their price target on shares of Affirm from $50.00 to $41.00 and set an overweight rating on the stock in a report on Tuesday, April 16th. Wedbush reissued an underperform rating and issued a $20.00 price target on shares of Affirm in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affirm from $24.00 to $35.00 and gave the stock a hold rating in a report on Friday, February 9th. Finally, Stephens boosted their price objective on Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $27.86.

Affirm Stock Performance

NASDAQ AFRM opened at $32.76 on Tuesday. The company has a fifty day simple moving average of $35.71 and a 200 day simple moving average of $34.94. Affirm has a 12-month low of $8.80 and a 12-month high of $52.48. The company has a current ratio of 11.49, a quick ratio of 11.49 and a debt-to-equity ratio of 2.35. The company has a market cap of $10.05 billion, a P/E ratio of -13.16 and a beta of 3.58.

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

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $34.39, for a total transaction of $319,001.64. Following 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 can be accessed through the SEC website. Insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC bought a new position in shares of Affirm during the 3rd quarter worth $138,000. Harbor Capital Advisors Inc. grew its position in shares of Affirm by 44.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 150,621 shares of the company’s stock worth $3,204,000 after buying an additional 46,509 shares in the last quarter. Kathleen S. Wright Associates Inc. grew its position in shares of Affirm by 46.4% during the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 8,387 shares of the company’s stock worth $178,000 after buying an additional 2,660 shares in the last quarter. Raymond James & Associates grew its position in shares of Affirm by 9.2% during the 3rd quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock worth $451,000 after buying an additional 1,781 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of Affirm by 25.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock worth $5,910,000 after buying an additional 55,568 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.