Affirm (NASDAQ:AFRM) Coverage Initiated by Analysts at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn initiated coverage of Affirm (NASDAQ:AFRM) with a neutral rating and a price target of $74.00, indicating a potential upside of 7.93% from its current price.
• The consensus among analysts is a Moderate Buy rating for Affirm, with 18 analysts issuing buy ratings and a consensus price target of $68.09.
• Affirm recently reported quarterly earnings with an EPS of $0.01, exceeding estimates of ($0.09) and showcasing a revenue increase of 35.9% year-over-year.

Rothschild & Co Redburn began coverage on shares of Affirm (NASDAQ:AFRM - Get Free Report) in a research report issued on Friday,Briefing.com Automated Import reports. The brokerage set a "neutral" rating and a $74.00 price target on the stock. Rothschild & Co Redburn's price objective suggests a potential upside of 7.93% from the company's current price.

A number of other research analysts also recently commented on the company. Citigroup reiterated an "overweight" rating on shares of Affirm in a report on Monday, June 30th. Truist Financial raised their price target on Affirm from $58.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Barclays raised their price target on Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. UBS Group dropped their price target on Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, BTIG Research downgraded Affirm from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Ten investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Affirm has a consensus rating of "Moderate Buy" and a consensus price target of $68.09.

Affirm Trading Up 1.7%

AFRM opened at $68.56 on Friday. Affirm has a one year low of $22.25 and a one year high of $82.53. The company has a market cap of $22.12 billion, a P/E ratio of -326.48, a PEG ratio of 2.49 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The business's 50-day simple moving average is $62.89 and its 200-day simple moving average is $57.04.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. During the same quarter in the prior year, the business posted ($0.43) EPS. The business's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, equities research analysts expect that Affirm will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 754 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total value of $50,842.22. Following the completion of the sale, the director directly owned 137,241 shares of the company's stock, valued at $9,254,160.63. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 57,102 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.27, for a total value of $4,012,557.54. Following the completion of the sale, the insider directly owned 112,467 shares of the company's stock, valued at $7,903,056.09. This represents a 33.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,158 shares of company stock valued at $5,602,284 over the last 90 days. 11.82% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

Several hedge funds have recently modified their holdings of AFRM. Mirae Asset Global Investments Co. Ltd. raised its holdings in Affirm by 2,800.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company's stock worth $2,083,000 after purchasing an additional 44,495 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Affirm by 2.6% during the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company's stock worth $8,887,000 after purchasing an additional 3,672 shares during the last quarter. Spire Wealth Management acquired a new position in Affirm during the first quarter worth $120,000. Deutsche Bank AG raised its holdings in Affirm by 2.6% during the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company's stock worth $1,973,000 after purchasing an additional 817 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Affirm by 5.3% during the fourth quarter. Sei Investments Co. now owns 40,840 shares of the company's stock worth $2,487,000 after purchasing an additional 2,067 shares during the last quarter. 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.

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