Affirm (NASDAQ:AFRM) Receives “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Affirm (NASDAQ:AFRM) in a report issued on Wednesday morning, Benzinga reports.

AFRM has been the subject of a number of other reports. Barclays cut their target price on Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group raised their price objective on shares of Affirm from $18.00 to $20.00 and gave the stock a neutral rating in a report on Friday, February 9th. BMO Capital Markets lifted their target price on shares of Affirm from $44.00 to $47.00 and gave the company a market perform rating in a research report on Monday, February 12th. Stephens increased their price target on shares of Affirm from $6.00 to $16.00 and gave the stock an underweight rating in a research report on Friday, February 9th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Affirm in a report on Tuesday, April 23rd. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $27.97.

Affirm Stock Down 9.5 %

Shares of AFRM opened at $31.58 on Wednesday. The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The company has a 50-day simple moving average of $34.60 and a 200-day simple moving average of $35.93. Affirm has a 52 week low of $11.54 and a 52 week high of $52.48. The firm has a market capitalization of $9.69 billion, a P/E ratio of -12.68 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The firm had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. On average, equities research analysts expect that Affirm will post -2.45 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the sale, the director now directly owns 60,000 shares of the company’s stock, valued at $1,927,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several large investors have recently made changes to their positions in AFRM. Planned Solutions Inc. bought a new stake in Affirm during the 4th quarter worth about $25,000. Creative Financial Designs Inc. ADV lifted its holdings in Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after buying an additional 300 shares during the period. Raleigh Capital Management Inc. bought a new position in Affirm in the fourth quarter valued at approximately $33,000. Global Wealth Strategies & Associates grew its holdings in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Affirm during the 4th quarter valued at $49,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.