JMP Securities Begins Coverage on Affirm (NASDAQ:AFRM)

by · The Markets Daily

JMP Securities initiated coverage on shares of Affirm (NASDAQ:AFRM – Free Report) in a report published on Friday, Marketbeat.com reports. The firm issued a market perform rating on the stock.

AFRM has been the topic of a number of other reports. BMO Capital Markets lowered their target price on shares of Affirm from $48.00 to $46.00 and set a market perform rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. raised Affirm from a neutral rating to an overweight rating and increased their price target for the stock from $41.00 to $43.00 in a report on Thursday, May 9th. BTIG Research began coverage on Affirm in a report on Friday, June 7th. They set a neutral rating for the company. The Goldman Sachs Group reaffirmed a buy rating and set a $42.00 price target on shares of Affirm in a report on Monday, June 24th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Affirm in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Affirm presently has an average rating of Hold and a consensus price target of $32.66.

Get Our Latest Research Report on AFRM

Affirm Stock Performance

Shares of AFRM opened at $29.83 on Friday. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The firm has a market cap of $9.22 billion, a PE ratio of -13.38 and a beta of 3.45. The company’s 50 day simple moving average is $31.74 and its 200-day simple moving average is $36.93. Affirm has a 12-month low of $12.81 and a 12-month high of $52.48.

Affirm (NASDAQ:AFRM – Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.69) earnings per share. As a group, equities analysts predict that Affirm will post -1.98 EPS for the current year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors increased its position in Affirm by 0.4% during the 1st quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after purchasing an additional 77,050 shares in the last quarter. Baillie Gifford & Co. increased its position in Affirm by 4.2% during the 1st quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after purchasing an additional 749,368 shares in the last quarter. 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 in the last quarter. Finally, 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 in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

(Get Free Report)

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.

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