Affirm’s (AFRM) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Affirm (NASDAQ:AFRM) in a research note published on Friday, Benzinga reports.

Several other equities research analysts have also recently issued reports on AFRM. Barclays raised their target price on Affirm from $41.00 to $50.00 and gave the stock an overweight rating in a research note on Friday, August 30th. Mizuho reiterated an outperform rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Wedbush upped their price target on Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a research note on Thursday, August 29th. Bank of America lifted their price objective on Affirm from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, August 29th. Finally, JMP Securities initiated coverage on Affirm in a research report on Friday, June 28th. They issued a market perform rating for the company. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $34.32.

Affirm Stock Down 3.0 %

NASDAQ AFRM opened at $38.44 on Friday. The company has a quick ratio of 12.94, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a 52 week low of $15.97 and a 52 week high of $52.48. The business’s fifty day simple moving average is $30.33 and its 200-day simple moving average is $32.41. The firm has a market cap of $11.88 billion, a PE ratio of -17.24 and a beta of 3.51.

Insiders Place Their Bets

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Monday, July 1st. The shares were sold at an average price of $29.89, for a total transaction of $277,259.64. Following the sale, the director now directly owns 73,623 shares in the company, valued at approximately $2,200,591.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Affirm during the 4th quarter worth $1,698,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Affirm by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock valued at $67,347,000 after purchasing an additional 72,178 shares during the period. Avantax Advisory Services Inc. purchased a new stake in shares of Affirm during the first quarter worth approximately $258,000. Principal Financial Group Inc. grew its position in Affirm by 34.3% in the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock valued at $710,000 after buying an additional 4,868 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after buying an additional 1,316,901 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

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.