Affirm (NASDAQ:AFRM) Upgraded to "Hold" at Redburn Atlantic

Key Points

• Redburn Atlantic has upgraded Affirm (NASDAQ:AFRM) to a "hold" rating, reflecting a shift in market sentiment towards the company's prospects.
• Analyst ratings for Affirm vary widely, with eleven analysts"Moderate Buy".
• Affirm's shares have seen a 3.1% decrease, currently trading around $66.41, and the company has had a significant revenue increase of 35.9% compared to the previous year.

Affirm (NASDAQ:AFRM - Get Free Report) was upgraded by investment analysts at Redburn Atlantic to a "hold" rating in a report issued on Friday,Zacks.com reports.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group upped 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. Wells Fargo & Company reduced their price objective on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered their target price 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. UBS Group lowered their price target on Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Affirm in a report on Thursday, July 17th. They issued a "buy" rating and a $78.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Affirm has an average rating of "Moderate Buy" and an average price target of $68.09.

Affirm Stock Performance

Shares of AFRM traded up $8.38 during mid-day trading on Friday, reaching $74.79. 9,868,835 shares of the company's stock traded hands, compared to its average volume of 4,942,894. Affirm has a 12 month low of $22.25 and a 12 month high of $82.53. The stock has a market capitalization of $24.13 billion, a P/E ratio of -356.14, a price-to-earnings-growth ratio of 2.46 and a beta of 3.63. The business's 50-day moving average price is $63.23 and its 200-day moving average price is $57.10. 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm's quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. Equities analysts predict that Affirm will post -0.18 earnings per share for the current year.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 754 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total transaction of $50,842.22. Following the sale, the director owned 137,241 shares in the company, valued at approximately $9,254,160.63. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the transaction, the director directly owned 36,497 shares of the company's stock, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. 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 Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its holdings in shares of Affirm by 2.0% during the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company's stock worth $1,477,747,000 after purchasing an additional 470,409 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after buying an additional 1,457,434 shares during the period. Capital World Investors boosted its stake in shares of Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company's stock worth $1,116,861,000 after buying an additional 72,582 shares during the last quarter. Durable Capital Partners LP grew its holdings in Affirm by 12.3% during the first quarter. Durable Capital Partners LP now owns 6,580,882 shares of the company's stock worth $297,390,000 after acquiring an additional 722,599 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in Affirm by 11.6% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock valued at $316,561,000 after acquiring an additional 538,892 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company's stock.

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.