Needham & Company LLC Reiterates “Hold” Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Several other brokerages have also recently weighed in on AFRM. Bank of America boosted 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. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price objective 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $62.88.

Affirm Price Performance

AFRM stock opened at $61.75 on Friday. The company’s fifty day moving average price is $62.98 and its 200-day moving average price is $48.86. Affirm has a one year low of $22.25 and a one year high of $73.34. The company has a market capitalization of $19.39 billion, a PE ratio of -43.49 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. On average, equities analysts anticipate that Affirm will post -0.62 EPS for the current fiscal year.

Insider Activity

In related news, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This trade represents a 68.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the transaction, the director now owns 41,497 shares of the company’s stock, valued at $2,989,858.85. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,339,564 shares of company stock worth $87,252,461. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of Affirm during the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. raised its stake in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm during the 4th quarter valued at about $33,000. Advisors Asset Management Inc. raised its stake in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the last quarter. Hedge funds and other institutional investors 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.