Susquehanna Downgrades Affirm (NASDAQ:AFRM) to Neutral

Affirm (NASDAQ:AFRM) was downgraded by investment analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Tuesday, MarketBeat.com reports. They presently have a $57.00 price objective on the stock. Susquehanna’s target price points to a potential upside of 0.99% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Barclays upped their target price on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. The Goldman Sachs Group boosted their price objective on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Finally, Mizuho increased their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.88.

Affirm Stock Down 0.6 %

Shares of NASDAQ:AFRM opened at $56.44 on Tuesday. The company has a market cap of $17.73 billion, a price-to-earnings ratio of -39.75 and a beta of 3.67. Affirm has a 12 month low of $22.25 and a 12 month high of $73.34. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a 50-day moving average price of $64.02 and a 200 day moving average price of $46.76.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) EPS. As a group, equities research analysts predict that Affirm will post -0.62 earnings per share for the current year.

Insider Activity at Affirm

In related news, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the transaction, the president now directly owns 159,449 shares in the company, valued at $9,885,838. The trade was a 38.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the sale, the director now owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,323,478 shares of company stock valued at $86,285,371 over the last quarter. 12.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its stake in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Affirm in the 3rd quarter worth $29,000. Advisors Asset Management Inc. lifted its position in Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the period. Venturi Wealth Management LLC grew its stake in Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares during the last quarter. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Affirm in the third quarter valued at about $65,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

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.