Affirm (NASDAQ:AFRM) Rating Increased to Hold at Seaport Res Ptn

Affirm (NASDAQ:AFRM) was upgraded by analysts at Seaport Res Ptn to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on AFRM. JPMorgan Chase & Co. upped their price objective on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, February 7th. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group dropped their price objective on shares of Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Tuesday, January 21st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.76.

Affirm Price Performance

AFRM stock opened at $52.54 on Monday. The stock’s fifty day simple moving average is $60.63 and its 200-day simple moving average is $56.23. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of -80.83 and a beta of 3.63. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. Equities research analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now owns 38,997 shares in the company, valued at approximately $1,785,282.66. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now directly owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock worth $3,920,543 over the last 90 days. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of Affirm by 2.0% in the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock valued at $1,477,747,000 after acquiring an additional 470,409 shares in the last quarter. Vanguard Group Inc. raised its stake in Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock valued at $1,328,568,000 after purchasing an additional 716,574 shares during the period. Capital World Investors lifted its holdings in shares of Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock valued at $1,116,861,000 after purchasing an additional 72,582 shares in the last quarter. Durable Capital Partners LP grew its holdings in shares of Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after buying an additional 2,888,827 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in Affirm by 11.6% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock valued at $316,561,000 after buying an additional 538,892 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.