Affirm (NASDAQ:AFRM) Receives Hold Rating from Needham & Company LLC

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

AFRM has been the topic of several other research reports. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the company from $25.00 to $45.00 in a report on Monday, October 14th. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and raised their target price for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Wells Fargo & Company raised their target price on shares of Affirm from $55.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Barclays raised their target price on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. One 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $62.88.

Affirm Price Performance

Shares of NASDAQ:AFRM 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. The firm has a market capitalization of $19.39 billion, a price-to-earnings ratio of -43.49 and a beta of 3.66. Affirm has a one year low of $22.25 and a one year high of $73.34. 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 (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 research analysts anticipate that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at $5,893,125.80. The trade was a 82.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Libor Michalek sold 100,000 shares of Affirm stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the completion of the sale, the president now owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,339,564 shares of company stock worth $87,252,461. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

A number of large investors have recently made changes to their positions in AFRM. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the third quarter worth approximately $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm in the fourth quarter worth approximately $33,000. Advisors Asset Management Inc. boosted its holdings in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after buying an additional 671 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after buying an additional 732 shares during the last quarter. 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.