Affirm (NASDAQ:AFRM) Downgraded by Wall Street Zen to "Hold"

Affirm (NASDAQ:AFRM - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

AFRM has been the subject of a number of other reports. UBS Group reduced their target price on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Bank of America upped their target price on shares of Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Truist Financial assumed coverage on shares of Affirm in a research report on Monday. They set a "buy" rating and a $58.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Affirm from $74.00 to $69.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Finally, JMP Securities decreased their price target on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $64.15.

Affirm Stock Performance

Shares of AFRM traded up $3.21 during mid-day trading on Friday, hitting $58.92. 7,222,489 shares of the company traded hands, compared to its average volume of 8,559,610. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The stock has a 50-day moving average price of $47.85 and a two-hundred day moving average price of $57.05. Affirm has a 1 year low of $22.25 and a 1 year high of $82.53. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -90.65 and a beta of 3.58.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The firm had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the previous year, the company earned ($0.43) earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. Equities analysts anticipate that Affirm will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now directly owns 38,997 shares in the company, valued at approximately $1,785,282.66. This trade represents a 6.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total transaction of $730,556.08. Following the completion of the sale, the director now owns 45,432 shares in the company, valued at $2,063,067.12. This represents a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,677 shares of company stock worth $1,665,545 in the last three months. Corporate insiders own 11.82% of the company's stock.

Institutional Trading of Affirm

A number of institutional investors have recently modified their holdings of AFRM. Durable Capital Partners LP boosted its holdings in shares of Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after buying an additional 2,888,827 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Affirm by 140.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock worth $205,350,000 after purchasing an additional 2,657,074 shares in the last quarter. Norges Bank acquired a new stake in Affirm in the 4th quarter worth approximately $139,949,000. Capital International Investors acquired a new stake in Affirm in the 4th quarter worth approximately $100,030,000. Finally, Vanguard Group Inc. boosted its stake in Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock worth $1,051,707,000 after purchasing an additional 1,457,434 shares in the last quarter. 69.29% of the stock is currently owned by 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.

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