Affirm (NASDAQ:AFRM) Now Covered by JMP Securities

JMP Securities began coverage on shares of Affirm (NASDAQ:AFRM - Free Report) in a report issued on Friday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

Other research analysts have also issued reports about the company. Barclays decreased their target price on Affirm from $50.00 to $41.00 and set an overweight rating for the company in a report on Tuesday, April 16th. JPMorgan Chase & Co. upgraded Affirm from a neutral rating to an overweight rating and lifted their target price for the company from $41.00 to $43.00 in a report on Thursday, May 9th. Royal Bank of Canada reiterated a sector perform rating and issued a $43.00 target price on shares of Affirm in a report on Friday, May 24th. Mizuho reiterated a buy rating and issued a $65.00 target price on shares of Affirm in a report on Thursday, June 20th. Finally, Needham & Company LLC restated a hold rating on shares of Affirm in a research note on Thursday, May 9th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Affirm presently has a consensus rating of Hold and a consensus target price of $32.66.

Affirm Trading Down 0.8 %

Shares of AFRM traded down $0.25 during midday trading on Friday, hitting $30.21. 11,298,935 shares of the stock were exchanged, compared to its average volume of 8,678,108. Affirm has a 52-week low of $12.81 and a 52-week high of $52.48. The stock has a fifty day simple moving average of $31.78 and a 200 day simple moving average of $37.10. The firm has a market cap of $9.34 billion, a P/E ratio of -13.55 and a beta of 3.47. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.27. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company's quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted ($0.69) earnings per share. On average, research analysts anticipate that Affirm will post -1.98 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith Rabois sold 9,276 shares of the business's stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the sale, the director now directly owns 60,000 shares of the company's stock, valued at approximately $1,927,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.05% of the company's stock.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Affirm during the 4th quarter valued at approximately $1,698,000. Charles Schwab Investment Management Inc. increased its position in Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company's stock worth $67,347,000 after purchasing an additional 72,178 shares during the period. Exchange Traded Concepts LLC acquired a new position in Affirm during the 4th quarter worth approximately $1,816,000. AXQ Capital LP acquired a new position in Affirm during the 3rd quarter worth approximately $735,000. Finally, Dimensional Fund Advisors LP increased its position in Affirm by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company's stock worth $128,895,000 after purchasing an additional 153,675 shares during the period. 69.29% of the stock is owned by hedge funds and other 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.