Mizuho Reiterates “Buy” Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “buy” rating restated by analysts at Mizuho in a research note issued on Thursday, Benzinga reports. They currently have a $65.00 price target on the stock. Mizuho’s target price indicates a potential upside of 117.61% from the stock’s previous close.

A number of other brokerages have also recently commented on AFRM. BMO Capital Markets reduced their target price on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Royal Bank of Canada restated a “sector perform” rating and set a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. BTIG Research began coverage on Affirm in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.28.

Affirm Stock Down 0.9 %

Shares of AFRM opened at $29.87 on Thursday. Affirm has a 52 week low of $12.81 and a 52 week high of $52.48. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of -13.30 and a beta of 3.47. The stock’s 50-day moving average price is $31.76 and its 200-day moving average price is $37.43.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The company had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. Affirm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.69) EPS. On average, sell-side analysts predict that Affirm will post -1.98 EPS for the current year.

Insider Transactions at Affirm

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

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky boosted its holdings in Affirm by 19.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock valued at $6,895,000 after purchasing an additional 30,500 shares in the last quarter. Cetera Advisors LLC raised its holdings in Affirm by 38.4% in the 1st quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock valued at $269,000 after acquiring an additional 2,005 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Affirm by 255.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock valued at $49,000 after acquiring an additional 954 shares during the last quarter. Comerica Bank raised its holdings in Affirm by 16.2% in the 1st quarter. Comerica Bank now owns 6,109 shares of the company’s stock valued at $228,000 after acquiring an additional 850 shares during the last quarter. Finally, Interval Partners LP purchased a new stake in shares of Affirm during the 1st quarter valued at $745,000. 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.