Affirm (NASDAQ:AFRM) Stock Rating Lowered by Wall Street Zen

Affirm (NASDAQ:AFRM) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts have also recently issued reports on the company. Wolfe Research assumed coverage on Affirm in a report on Tuesday, December 9th. They issued a “peer perform” rating on the stock. BTIG Research reissued a “neutral” rating on shares of Affirm in a research report on Wednesday, December 17th. Morgan Stanley lowered their price objective on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Citigroup raised Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Truist Financial decreased their price objective on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $86.57.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $74.03 on Friday. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The stock has a fifty day moving average price of $71.40 and a two-hundred day moving average price of $73.40. The firm has a market cap of $24.44 billion, a P/E ratio of 110.49, a PEG ratio of 3.38 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. During the same period in the previous year, the company earned ($0.31) earnings per share. Affirm’s revenue was up 33.6% compared to the same quarter last year. Research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 8,189 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $70.00, for a total value of $573,230.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $95,760. The trade was a 85.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFRM. Triumph Capital Management acquired a new position in Affirm in the third quarter worth about $31,000. Allworth Financial LP boosted its stake in shares of Affirm by 53.1% in the 3rd quarter. Allworth Financial LP now owns 1,223 shares of the company’s stock valued at $89,000 after purchasing an additional 424 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Affirm by 7.4% in the 3rd quarter. IFP Advisors Inc now owns 4,852 shares of the company’s stock worth $355,000 after purchasing an additional 333 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in Affirm by 231.6% during the third quarter. Swiss Life Asset Management Ltd now owns 22,049 shares of the company’s stock worth $1,611,000 after buying an additional 15,399 shares during the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Affirm during the 3rd quarter worth approximately $6,721,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.