Affirm (NASDAQ:AFRM) Receives "Hold" Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Affirm (NASDAQ:AFRM - Free Report) in a research report report published on Wednesday morning,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Seaport Res Ptn upgraded Affirm to a "hold" rating in a research report on Monday, March 24th. Wall Street Zen cut Affirm from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Truist Financial assumed coverage on shares of Affirm in a report on Monday, June 2nd. They issued a "buy" rating and a $58.00 price objective for the company. Bank of America boosted their target price on shares of Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company decreased their price target on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $65.67.

Affirm Price Performance

Shares of AFRM stock traded up $0.67 on Wednesday, reaching $69.04. The company had a trading volume of 2,297,428 shares, compared to its average volume of 8,373,765. The business's 50-day moving average is $56.36 and its 200 day moving average is $56.42. Affirm has a one year low of $22.25 and a one year high of $82.53. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $22.27 billion, a PE ratio of -328.74, a price-to-earnings-growth ratio of 2.48 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the prior year, the company earned ($0.43) EPS. The firm's quarterly revenue was up 35.9% compared to the same quarter last year. Equities research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith Rabois sold 16,089 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the transaction, the director directly owned 29,343 shares of the company's stock, valued at approximately $1,496,493. This represents a 35.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,343 shares of company stock worth $1,023,531. 11.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Institutional investors have recently modified their holdings of the company. KLP Kapitalforvaltning AS increased its stake in Affirm by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock valued at $2,219,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP increased its position in shares of Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after acquiring an additional 219 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Affirm by 0.6% in the 1st quarter. Sei Investments Co. now owns 41,066 shares of the company's stock worth $1,856,000 after acquiring an additional 226 shares during the last quarter. HB Wealth Management LLC lifted its position in Affirm by 2.2% in the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock valued at $518,000 after acquiring an additional 252 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock valued at $622,000 after purchasing an additional 280 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Company Profile

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.