Affirm (NASDAQ:AFRM) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Affirm (NASDAQ:AFRM) in a report released on Wednesday morning,Benzinga reports.

Several other analysts have also issued reports on AFRM. Bank of America increased their price target on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Mizuho raised their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $56.44 on Wednesday. Affirm has a 12-month low of $22.25 and a 12-month high of $73.34. The company’s 50 day moving average price is $64.02 and its two-hundred day moving average price is $46.76. The firm has a market cap of $17.73 billion, a PE ratio of -39.75 and a beta of 3.67. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. Equities research analysts predict that Affirm will post -0.62 earnings per share for the current year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the transaction, the director now directly owns 41,497 shares of the company’s stock, valued at $2,989,858.85. The trade was a 5.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 1,323,478 shares of company stock worth $86,285,371 over the last ninety days. 12.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently made changes to their positions in AFRM. Spyglass Capital Management LLC lifted its holdings in shares of Affirm by 9.3% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares in the last quarter. Dragoneer Investment Group LLC acquired a new position in shares of Affirm during the second quarter valued at about $45,219,000. Artemis Investment Management LLP increased its position in shares of Affirm by 2.1% during the fourth quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock worth $46,908,000 after acquiring an additional 15,517 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after acquiring an additional 528,400 shares during the last quarter. 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.