Affirm (NASDAQ:AFRM) Cut to “Neutral” at Susquehanna

Susquehanna lowered shares of Affirm (NASDAQ:AFRM) from a positive rating to a neutral rating in a research report report published on Tuesday, MarketBeat.com reports. They currently have $57.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Bank of America boosted their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $82.00 in a report on Thursday, December 19th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. Finally, JMP Securities raised shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $61.88.

Affirm Price Performance

AFRM stock opened at $56.76 on Tuesday. The stock has a market capitalization of $17.83 billion, a price-to-earnings ratio of -39.97 and a beta of 3.67. The stock’s fifty day simple moving average is $64.09 and its 200-day simple moving average is $46.83. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the previous year, the business earned ($0.57) EPS. Equities research analysts expect that Affirm will post -0.62 EPS for the current year.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the sale, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Libor Michalek sold 6,629 shares of Affirm stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the completion of the transaction, the president now owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,323,478 shares of company stock worth $86,285,371. 12.41% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AFRM. TriaGen Wealth Management LLC acquired a new stake in Affirm during the fourth quarter worth about $585,000. Caprock Group LLC grew its holdings in shares of Affirm by 9.1% during the fourth quarter. Caprock Group LLC now owns 9,240 shares of the company’s stock valued at $563,000 after purchasing an additional 770 shares during the last quarter. Institute for Wealth Management LLC. acquired a new stake in shares of Affirm during the 4th quarter worth approximately $411,000. Integris Wealth Management LLC acquired a new stake in shares of Affirm during the 4th quarter worth approximately $750,000. Finally, R Squared Ltd bought a new stake in shares of Affirm in the 4th quarter worth approximately $33,000. 69.29% of the stock is currently owned by institutional investors.

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.