BTIG Research Downgrades Affirm (NASDAQ:AFRM) to Neutral

Affirm (NASDAQ:AFRM - Get Free Report) was downgraded by equities research analysts at BTIG Research from a "buy" rating to a "neutral" rating in a research note issued to investors on Monday, Marketbeat Ratings reports.

AFRM has been the topic of a number of other research reports. Stephens began coverage on shares of Affirm in a report on Thursday, June 12th. They set an "equal weight" rating and a $69.00 price target on the stock. JMP Securities decreased their target price on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. BMO Capital Markets reaffirmed an "outperform" rating and set a $69.00 price objective on shares of Affirm in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on shares of Affirm from $74.00 to $69.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a research note on Monday, March 24th. Ten research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Affirm has an average rating of "Moderate Buy" and a consensus price target of $65.90.

Affirm Price Performance

Shares of NASDAQ:AFRM traded up $1.06 during trading on Monday, reaching $67.21. The company had a trading volume of 4,925,886 shares, compared to its average volume of 8,337,188. The firm's fifty day moving average is $59.10 and its 200 day moving average is $56.46. The firm has a market capitalization of $21.68 billion, a PE ratio of -320.05, a price-to-earnings-growth ratio of 2.33 and a beta of 3.63. Affirm has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share 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 company had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. During the same period in the prior year, the business posted ($0.43) EPS. The business's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, equities analysts forecast that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Affirm news, CFO Robert O'hare sold 19,802 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total transaction of $1,386,734.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the sale, the director owned 36,497 shares in the company, valued at $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,247 shares of company stock worth $6,422,823. 11.82% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

Several hedge funds have recently bought and sold shares of AFRM. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Affirm by 2,800.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company's stock valued at $2,083,000 after purchasing an additional 44,495 shares during the last quarter. Ameriprise Financial Inc. boosted its position 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 period. Spire Wealth Management bought a new position in Affirm during the first quarter worth $120,000. Steward Partners Investment Advisory LLC boosted its position in Affirm by 59.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company's stock worth $114,000 after purchasing an additional 700 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Affirm by 2.6% in the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company's stock valued at $1,973,000 after acquiring an additional 817 shares during the period. 69.29% of the stock is currently 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.