Affirm (NASDAQ:AFRM) Receives New Coverage from Analysts at Susquehanna

Susquehanna assumed coverage on shares of Affirm (NASDAQ:AFRM) in a research note published on Friday, Marketbeat.com reports. The firm issued a positive rating and a $52.00 price target on the stock.

Other research analysts also recently issued research reports about the company. JMP Securities began coverage on Affirm in a report on Friday, June 28th. They issued a market perform rating on the stock. Bank of America raised their price objective on shares of Affirm from $36.00 to $42.00 and gave the stock a buy rating in a report on Thursday, August 29th. Wedbush increased their price target on shares of Affirm from $20.00 to $25.00 and gave the stock an underperform rating in a research report on Thursday, August 29th. BTIG Research assumed coverage on shares of Affirm in a research report on Friday, June 7th. They set a neutral rating for the company. Finally, Mizuho reaffirmed an outperform rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $35.53.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $44.67 on Friday. The firm’s 50-day moving average price is $33.27 and its 200-day moving average price is $32.75. Affirm has a 52-week low of $15.97 and a 52-week high of $52.48. The company has a market cap of $13.81 billion, a PE ratio of -20.03 and a beta of 3.51. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to analysts’ expectations of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. As a group, analysts anticipate that Affirm will post -0.82 EPS for the current year.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now owns 91,499 shares in the company, valued at $4,117,455. The disclosure for this sale can be found here. Insiders have sold a total of 121,351 shares of company stock worth $5,081,045 over the last quarter. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several large investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new position in shares of Affirm during the 2nd quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new position in Affirm during the fourth quarter worth $33,000. Global Wealth Strategies & Associates increased its position in Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC increased 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 acquiring an additional 540 shares during the last quarter. Finally, ORG Partners LLC raised its stake in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares during the period. 69.29% of the stock is owned by 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.