Affirm (NASDAQ:AFRM) Now Covered by Analysts at JMP Securities

JMP Securities initiated coverage on shares of Affirm (NASDAQ:AFRM) in a research report issued to clients and investors on Friday, Briefing.com reports. The brokerage set a “market perform” rating on the stock.

Other equities analysts have also issued reports about the stock. BMO Capital Markets cut their price target on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. JPMorgan Chase & Co. raised Affirm from a “neutral” rating to an “overweight” rating and upped their target price for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Barclays cut their price objective on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $43.00 target price on shares of Affirm in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.66.

Affirm Trading Down 3.0 %

Shares of NASDAQ AFRM opened at $30.46 on Friday. Affirm has a 1-year low of $12.81 and a 1-year high of $52.48. The business has a fifty day moving average price of $31.80 and a 200 day moving average price of $37.17. The stock has a market capitalization of $9.42 billion, a P/E ratio of -13.66 and a beta of 3.47. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94.

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

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the transaction, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Affirm during the fourth quarter worth $1,698,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after acquiring an additional 72,178 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Affirm in the 4th quarter valued at about $1,816,000. AXQ Capital LP purchased a new position in shares of Affirm in the 3rd quarter valued at about $735,000. Finally, Dimensional Fund Advisors LP raised its holdings in Affirm by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company’s stock worth $128,895,000 after purchasing an additional 153,675 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.