Rothschild & Co Redburn Begins Coverage on Affirm (NASDAQ:AFRM)

Rothschild & Co Redburn began coverage on shares of Affirm (NASDAQ:AFRM) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $74.00 price target on the stock. Rothschild & Co Redburn’s target price indicates a potential upside of 11.43% from the company’s previous close.

A number of other equities analysts also recently issued reports on AFRM. JMP Securities cut 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. The Goldman Sachs Group lifted their target price on Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Barclays increased their price target on Affirm from $67.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Stephens assumed coverage on shares of Affirm in a report on Thursday, June 12th. They set an “equal weight” rating and a $69.00 price objective on the stock. Finally, TD Cowen initiated coverage on shares of Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.09.

Affirm Price Performance

Shares of AFRM opened at $66.41 on Friday. The business’s fifty day moving average is $63.23 and its 200 day moving average is $57.11. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market cap of $21.42 billion, a P/E ratio of -316.24, a P/E/G ratio of 2.46 and a beta of 3.63.

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

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 57,102 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.27, for a total value of $4,012,557.54. Following the completion of the transaction, the insider directly owned 112,467 shares of the company’s stock, valued at approximately $7,903,056.09. This trade represents a 33.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert O’hare sold 19,802 shares of the business’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 80,158 shares of company stock worth $5,602,284 over the last ninety days. Company insiders own 11.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Affirm by 2,800.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company’s stock valued at $2,083,000 after buying an additional 44,495 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Affirm by 2.6% in the 4th quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company’s stock valued at $8,887,000 after acquiring an additional 3,672 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Affirm during the 1st quarter valued at about $120,000. Deutsche Bank AG boosted its position in shares of Affirm by 2.6% during the 4th quarter. Deutsche Bank AG now owns 32,400 shares of the company’s stock valued at $1,973,000 after acquiring an additional 817 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Affirm by 5.3% during the fourth quarter. Sei Investments Co. now owns 40,840 shares of the company’s stock valued at $2,487,000 after buying an additional 2,067 shares during the period. 69.29% of the stock is owned by institutional investors.

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.