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

Affirm (NASDAQ:AFRM)‘s stock had its “neutral” rating reissued by JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Wedbush reiterated an “underperform” rating and issued a $20.00 target price on shares of Affirm in a research note on Friday, February 9th. The Goldman Sachs Group upped their target price on shares of Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. BMO Capital Markets upped their target price on shares of Affirm from $44.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, February 12th. Finally, Stephens increased their price objective on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $32.08 on Tuesday. Affirm has a 1 year low of $8.80 and a 1 year high of $52.48. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The company’s 50-day moving average is $35.53 and its 200 day moving average is $34.92. The stock has a market capitalization of $9.84 billion, a P/E ratio of -12.88 and a beta of 3.57.

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

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction dated 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 owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AFRM. Vanguard Group Inc. grew its position in Affirm by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock worth $958,569,000 after purchasing an additional 769,843 shares during the last quarter. Capital World Investors grew its position in Affirm by 1.2% during the 4th quarter. Capital World Investors now owns 19,002,021 shares of the company’s stock worth $933,759,000 after purchasing an additional 218,720 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Affirm by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company’s stock worth $128,895,000 after purchasing an additional 153,675 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after purchasing an additional 72,178 shares during the last quarter. Finally, Norges Bank purchased a new stake in Affirm during the 4th quarter worth approximately $67,310,000. Hedge funds and other institutional investors 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.