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

Affirm (NASDAQ:AFRM) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Monday, Marketbeat Ratings reports.

Several other brokerages have also commented on AFRM. BMO Capital Markets restated an “outperform” rating and set a $69.00 price target on shares of Affirm in a research note on Thursday, March 20th. The Goldman Sachs Group upped their price target on Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. UBS Group dropped their price target on Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. JMP Securities dropped their price target on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research note on Friday, May 9th. Finally, Morgan Stanley dropped their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.90.

Affirm Stock Performance

Affirm stock opened at $66.15 on Monday. The firm has a market capitalization of $21.34 billion, a P/E ratio of -315.00, a PEG ratio of 2.33 and a beta of 3.63. The stock has a fifty day moving average price of $59.10 and a 200 day moving average price of $56.46. Affirm has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.43) earnings per share. Equities research analysts anticipate that Affirm will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 19,802 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total transaction of $1,386,734.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Adkins sold 57,102 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $70.27, for a total transaction of $4,012,557.54. Following the sale, the insider directly owned 112,467 shares of the company’s stock, valued at $7,903,056.09. The trade was a 33.67% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,247 shares of company stock valued at $6,422,823. Corporate insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in Affirm in the fourth quarter worth $28,000. Allworth Financial LP boosted its holdings in Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 219 shares during the period. UMB Bank n.a. boosted its holdings in Affirm by 86.6% in the second quarter. UMB Bank n.a. now owns 569 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Coppell Advisory Solutions LLC acquired a new position in shares of Affirm during the fourth quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Affirm during the fourth quarter valued at $43,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.