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

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday, Benzinga reports.

Other analysts have also recently issued research reports about the company. Stephens boosted their price target on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Wedbush reissued an “underperform” rating and issued a $20.00 price objective on shares of Affirm in a research note on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Tuesday. Barclays dropped their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. Finally, The Goldman Sachs Group increased their target price on Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Affirm has an average rating of “Hold” and an average target price of $27.86.

Affirm Price Performance

Shares of Affirm stock traded up $0.89 on Tuesday, hitting $32.86. 6,576,230 shares of the company traded hands, compared to its average volume of 9,504,337. 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 business has a 50-day simple moving average of $35.85 and a 200 day simple moving average of $34.84. The stock has a market capitalization of $10.08 billion, a P/E ratio of -13.16 and a beta of 3.58. Affirm has a 52 week low of $8.80 and a 52 week high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.08. The business had revenue of $591.11 million for the quarter, compared to analyst estimates of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Research analysts expect that Affirm will post -2.45 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the sale, the director now directly owns 78,552 shares of the company’s stock, valued at approximately $2,701,403.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Planned Solutions Inc. acquired a new stake in Affirm in the 4th quarter worth $25,000. Creative Financial Designs Inc. ADV raised its stake in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Affirm in the fourth quarter worth about $33,000. Global Wealth Strategies & Associates raised its stake in shares of Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after buying an additional 470 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Affirm during the fourth quarter valued at approximately $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.