Affirm (NASDAQ:AFRM) Downgraded by Susquehanna to “Neutral”

Affirm (NASDAQ:AFRM) was downgraded by analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Tuesday,Briefing.com Automated Import reports. They currently have a $57.00 price target on the stock. Susquehanna’s price target would indicate a potential downside of 1.71% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. Mizuho increased their price target on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. William Blair initiated coverage on Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company boosted their price target on shares of Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Affirm Price Performance

Shares of AFRM stock opened at $57.99 on Tuesday. The firm has a market cap of $18.21 billion, a P/E ratio of -40.84 and a beta of 3.67. The firm has a fifty day moving average of $64.00 and a two-hundred day moving average of $46.49. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter last year, the business posted ($0.57) EPS. As a group, research analysts anticipate that Affirm will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 6,541 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now owns 2,963 shares in the company, valued at $184,535.64. This represents a 68.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the transaction, the director now owns 93,694 shares in the company, valued at $5,839,010.08. This represents a 14.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,323,478 shares of company stock worth $86,285,371 in the last quarter. 12.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

A number of large investors have recently bought and sold shares of the business. Yeomans Consulting Group Inc. acquired a new stake in shares of Affirm in the fourth quarter worth about $313,000. Janney Montgomery Scott LLC lifted its holdings in Affirm by 9.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 11,713 shares of the company’s stock worth $713,000 after purchasing an additional 1,015 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in Affirm by 13.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 77,500 shares of the company’s stock worth $4,720,000 after purchasing an additional 8,950 shares during the period. Ballentine Partners LLC acquired a new position in Affirm during the fourth quarter valued at approximately $249,000. Finally, Diversify Advisory Services LLC raised its position in shares of Affirm by 8.7% in the fourth quarter. Diversify Advisory Services LLC now owns 116,743 shares of the company’s stock valued at $7,110,000 after purchasing an additional 9,364 shares during the period. 69.29% of the stock is currently owned by institutional investors.

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.