Affirm’s (AFRM) “Hold” Rating Reaffirmed at Needham & Company LLC

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report released on Friday, Benzinga reports.

AFRM has been the subject of a number of other research reports. Royal Bank of Canada lifted their target price on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, August 29th. BTIG Research assumed coverage on Affirm in a report on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. lifted their target price on Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Mizuho reaffirmed an “outperform” rating and set a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Finally, Bank of America lifted their target price on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.32.

Affirm Trading Down 1.5 %

Shares of AFRM opened at $39.64 on Friday. The business has a 50-day moving average of $30.17 and a 200 day moving average of $32.41. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The firm has a market cap of $12.25 billion, a P/E ratio of -17.78 and a beta of 3.45. The company has a debt-to-equity ratio of 2.41, a quick ratio of 12.94 and a current ratio of 13.07.

Insider Activity

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Monday, July 1st. The shares were sold at an average price of $29.89, for a total value of $277,259.64. Following the sale, the director now owns 73,623 shares in the company, valued at $2,200,591.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in shares of Affirm in the 2nd quarter worth approximately $27,000. Raleigh Capital Management Inc. bought a new position in Affirm in the fourth quarter worth $33,000. Global Wealth Strategies & Associates raised its holdings in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the period. Finally, ORG Partners LLC boosted its holdings in shares of Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares in the last quarter. 69.29% of the stock is currently 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.