TD Cowen Initiates Coverage on Affirm (NASDAQ:AFRM)

TD Cowen assumed coverage on shares of Affirm (NASDAQ:AFRM) in a research report report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $50.00 price objective on the stock.

A number of other research firms also recently weighed in on AFRM. Seaport Res Ptn upgraded Affirm to a “hold” rating in a research note on Monday, March 24th. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $61.00 to $64.00 in a research report on Wednesday, March 19th. Barclays upped their price target on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group reduced their price objective on shares of Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, Morgan Stanley upped their target price on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.67.

Affirm Stock Performance

NASDAQ:AFRM opened at $36.45 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of -56.08 and a beta of 3.68. The firm’s fifty day moving average price is $57.26 and its 200 day moving average price is $56.22. Affirm has a 1-year low of $22.25 and a 1-year high of $82.53.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, sell-side analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at approximately $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the transaction, the director now owns 45,432 shares of the company’s stock, valued at $2,063,067.12. This trade represents a 26.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,762 shares of company stock valued at $3,241,246 over the last three months. 12.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Affirm by 2.5% in the first quarter. Rhumbline Advisers now owns 255,582 shares of the company’s stock worth $11,550,000 after acquiring an additional 6,131 shares during the last quarter. Parallel Advisors LLC raised its stake in Affirm by 18.3% during the first quarter. Parallel Advisors LLC now owns 4,971 shares of the company’s stock worth $225,000 after purchasing an additional 770 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Affirm by 4,872.3% in the 1st quarter. GAMMA Investing LLC now owns 207,693 shares of the company’s stock valued at $9,386,000 after purchasing an additional 203,516 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Affirm by 19.6% during the 1st quarter. Versant Capital Management Inc now owns 4,074 shares of the company’s stock valued at $184,000 after buying an additional 669 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of Affirm by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 226,593 shares of the company’s stock worth $13,800,000 after buying an additional 2,286 shares during the last quarter. Hedge funds and other institutional investors 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.