JPMorgan Chase & Co. Reiterates Neutral Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reaffirmed by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday, Benzinga reports.

Several other research firms also recently commented on AFRM. Barclays lowered their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 16th. Wedbush restated an “underperform” rating and issued a $20.00 target price on shares of Affirm in a report on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets lifted their target price on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, February 12th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.58.

Affirm Stock Performance

Shares of AFRM stock opened at $34.81 on Wednesday. The firm has a market cap of $10.68 billion, a P/E ratio of -13.98 and a beta of 3.56. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. Affirm has a fifty-two week low of $11.57 and a fifty-two week high of $52.48. The stock’s 50-day moving average is $34.54 and its two-hundred day moving average is $35.93.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. During the same period in the previous year, the company earned ($0.69) earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. Analysts predict that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Activity

In other Affirm news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the sale, the director now owns 60,000 shares in the company, valued at $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV raised its holdings in shares of Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after buying an additional 300 shares in the last quarter. Global Wealth Strategies & Associates grew its position in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina raised its stake in Affirm by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after acquiring an additional 480 shares in the last quarter. Planned Solutions Inc. bought a new position in shares of Affirm during the fourth quarter valued at $25,000. Finally, Signaturefd LLC boosted its stake in shares of Affirm by 9.0% in the 3rd quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock valued at $136,000 after purchasing an additional 528 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.