Affirm (NASDAQ:AFRM) Earns Neutral Rating from JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued on Wednesday, Benzinga reports.

A number of other research analysts have also recently weighed in on AFRM. The Goldman Sachs Group boosted their target price on shares of Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Royal Bank of Canada boosted their price objective on Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, February 9th. Stephens lifted their target price on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, February 9th. Barclays dropped their price target on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. Finally, Wedbush reiterated an “underperform” rating and issued a $20.00 price objective on shares of Affirm in a research note on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.86.

Affirm Stock Down 9.6 %

NASDAQ:AFRM traded down $3.35 on Wednesday, hitting $31.55. The stock had a trading volume of 16,828,682 shares, compared to its average volume of 9,133,320. Affirm has a 1 year low of $11.54 and a 1 year high of $52.48. The firm’s fifty day simple moving average is $34.72 and its two-hundred day simple moving average is $35.96. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The stock has a market cap of $9.68 billion, a P/E ratio of -12.62 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The business had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Analysts predict that Affirm will post -2.45 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the transaction, the director now owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Hedge funds have recently modified their holdings of the stock. Planned Solutions Inc. acquired a new position in shares of Affirm in the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV raised its position in Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new position in Affirm in the 4th quarter valued at about $33,000. Global Wealth Strategies & Associates boosted its stake in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Affirm in the 4th quarter valued at $49,000. 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.