Affirm (NASDAQ:AFRM) Rating Lowered to Underweight at Stephens

Stephens cut shares of Affirm (NASDAQ:AFRMGet Rating) from an equal weight rating to an underweight rating in a research note released on Tuesday, MarketBeat reports. They currently have $17.00 price target on the stock, down from their previous price target of $51.00.

Several other brokerages also recently weighed in on AFRM. Morgan Stanley reduced their price objective on shares of Affirm from $140.00 to $80.00 and set an overweight rating for the company in a research report on Wednesday, March 23rd. Barclays decreased their price target on shares of Affirm from $105.00 to $65.00 and set an overweight rating for the company in a research note on Monday, February 14th. Royal Bank of Canada decreased their price target on shares of Affirm from $83.00 to $58.00 and set an outperform rating for the company in a research note on Tuesday, March 15th. Jefferies Financial Group cut shares of Affirm from a hold rating to an underperform rating and decreased their price target for the stock from $55.00 to $45.00 in a research note on Friday, February 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Affirm from $70.00 to $35.00 in a research note on Wednesday, May 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $71.53.

Shares of Affirm stock opened at $23.71 on Tuesday. Affirm has a 52-week low of $13.64 and a 52-week high of $176.65. The company has a 50 day moving average of $34.94 and a 200 day moving average of $73.18. The company has a quick ratio of 7.12, a current ratio of 7.12 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $6.74 billion, a P/E ratio of -7.32 and a beta of 3.05.

Affirm (NASDAQ:AFRMGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.35. The company had revenue of $354.80 million during the quarter, compared to the consensus estimate of $344.01 million. Affirm had a negative net margin of 74.96% and a negative return on equity of 22.95%. The firm’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.72) earnings per share. As a group, research analysts anticipate that Affirm will post -2.77 earnings per share for the current fiscal year.

In related news, major shareholder Private Ltd Gic bought 181,864 shares of the firm’s stock in a transaction that occurred on Wednesday, April 27th. The shares were acquired at an average cost of $29.60 per share, with a total value of $5,383,174.40. Following the completion of the transaction, the insider now owns 4,467,578 shares of the company’s stock, valued at $132,240,308.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders purchased 2,107,799 shares of company stock worth $68,998,013 over the last three months. Corporate insiders own 16.48% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Affirm by 275.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 375 shares of the company’s stock valued at $37,000 after acquiring an additional 275 shares in the last quarter. HM Payson & Co. lifted its holdings in shares of Affirm by 540.0% during the 4th quarter. HM Payson & Co. now owns 448 shares of the company’s stock valued at $45,000 after acquiring an additional 378 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Affirm during the 4th quarter valued at $46,000. Pacer Advisors Inc. acquired a new position in shares of Affirm during the 4th quarter valued at $56,000. Finally, UMB Bank N A MO lifted its holdings in shares of Affirm by 484.0% during the 1st quarter. UMB Bank N A MO now owns 584 shares of the company’s stock valued at $27,000 after acquiring an additional 484 shares in the last quarter. Institutional investors own 58.34% of the company’s stock.

Affirm Company Profile (Get Rating)

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.

Further Reading

Analyst Recommendations for Affirm (NASDAQ:AFRM)

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