Affirm (NASDAQ:AFRM) Coverage Initiated at Stephens

Stephens started coverage on shares of Affirm (NASDAQ:AFRM - Get Free Report) in a report issued on Thursday, MarketBeat.com reports. The firm set an "equal weight" rating and a $69.00 price target on the stock. Stephens' price objective suggests a potential upside of 16.73% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company dropped their price objective on Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Susquehanna upgraded Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price target on the stock in a research note on Friday, May 9th. The Goldman Sachs Group boosted their price target on Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on Affirm from $74.00 to $69.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Finally, TD Cowen assumed coverage on Affirm in a report on Tuesday, April 8th. They set a "buy" rating and a $50.00 target price for the company. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Trading Down 3.2%

NASDAQ:AFRM traded down $1.94 during midday trading on Thursday, hitting $59.11. 6,523,520 shares of the company traded hands, compared to its average volume of 8,470,355. The firm's fifty day moving average is $50.05 and its 200-day moving average is $56.72. Affirm has a 12-month low of $22.25 and a 12-month high of $82.53. The firm has a market capitalization of $19.07 billion, a P/E ratio of -90.94 and a beta of 3.58. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The business's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.43) earnings per share. On average, sell-side analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the transaction, the director now directly owns 38,997 shares of the company's stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the transaction, the director now directly owns 45,432 shares of the company's stock, valued at approximately $2,063,067.12. This trade represents a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,677 shares of company stock worth $1,665,545. 11.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Affirm by 45.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,589 shares of the company's stock valued at $99,000 after purchasing an additional 496 shares during the period. Choreo LLC acquired a new stake in shares of Affirm in the fourth quarter valued at about $261,000. Bleakley Financial Group LLC acquired a new stake in shares of Affirm in the fourth quarter valued at about $210,000. Kingsview Wealth Management LLC acquired a new stake in shares of Affirm in the fourth quarter valued at about $318,000. Finally, Empowered Funds LLC acquired a new stake in shares of Affirm in the fourth quarter valued at about $538,000. 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.