Affirm (NASDAQ:AFRM) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Affirm (NASDAQ:AFRM) in a research note released on Friday morning, Benzinga reports.

AFRM has been the subject of a number of other research reports. The Goldman Sachs Group reiterated a buy rating and issued a $42.00 price target on shares of Affirm in a report on Monday, June 24th. Bank of America raised their price objective on Affirm from $36.00 to $42.00 and gave the company a buy rating in a research note on Thursday, August 29th. BTIG Research assumed coverage on Affirm in a research report on Friday, June 7th. They issued a neutral rating for the company. JMP Securities assumed coverage on Affirm in a research note on Friday, June 28th. They set a market perform rating for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Affirm from $43.00 to $46.00 and gave the stock a sector perform rating in a research report on Thursday, August 29th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $34.32.

Affirm Trading Down 3.0 %

Shares of AFRM stock opened at $38.44 on Friday. Affirm has a 1-year low of $15.97 and a 1-year high of $52.48. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 12.94. The business’s fifty day moving average price is $30.33 and its 200 day moving average price is $32.41. The firm has a market capitalization of $11.88 billion, a PE ratio of -17.24 and a beta of 3.51.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,275 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in shares of Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the period. ORG Partners LLC lifted its position in Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares in the last quarter. Raleigh Capital Management Inc. purchased a new stake in Affirm during the fourth quarter worth approximately $33,000. Finally, Myecfo LLC increased its position in shares of Affirm by 6.1% in the second quarter. Myecfo LLC now owns 11,671 shares of the company’s stock worth $353,000 after acquiring an additional 676 shares in the last quarter. 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.