Affirm (NASDAQ:AFRM) Coverage Initiated at JMP Securities

Research analysts at JMP Securities initiated coverage on shares of Affirm (NASDAQ:AFRM) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “market perform” rating on the stock.

Several other analysts also recently issued reports on AFRM. The Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 price target on shares of Affirm in a report on Monday, June 24th. BMO Capital Markets decreased their price objective on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Royal Bank of Canada reissued a “sector perform” rating and issued a $43.00 price objective on shares of Affirm in a research report on Friday, May 24th. Mizuho reissued a “buy” rating and issued a $65.00 price objective on shares of Affirm in a research report on Thursday, June 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Affirm presently has an average rating of “Hold” and an average target price of $32.66.

Affirm Stock Down 0.8 %

Shares of NASDAQ AFRM opened at $30.21 on Friday. Affirm has a 12-month low of $12.81 and a 12-month high of $52.48. The company has a market cap of $9.34 billion, a P/E ratio of -13.55 and a beta of 3.47. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The stock has a fifty day moving average price of $31.78 and a 200 day moving average price of $37.08.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The firm had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same period in the prior year, the firm earned ($0.69) EPS. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. Research analysts anticipate that Affirm will post -1.98 EPS for the current fiscal year.

Insiders Place Their Bets

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 value of $297,945.12. Following the transaction, the director now owns 60,000 shares of the company’s stock, valued at $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several large investors have recently made changes to their positions in AFRM. Norges Bank acquired a new stake in shares of Affirm in the fourth quarter valued at approximately $67,310,000. Vanguard Group Inc. increased its stake in shares of Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the period. Leo Wealth LLC acquired a new stake in shares of Affirm in the fourth quarter valued at approximately $57,647,000. Baillie Gifford & Co. increased its stake in shares of Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Affirm in the first quarter valued at approximately $20,150,000. 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.