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

Affirm (NASDAQ:AFRM)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a report released on Thursday, Benzinga reports.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $43.00 price objective on shares of Affirm in a research note on Friday, May 24th. BMO Capital Markets reduced their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Bank of America increased their price objective on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.32.

Affirm Stock Up 5.6 %

Shares of Affirm stock opened at $44.01 on Thursday. The stock has a 50-day moving average price of $29.43 and a 200 day moving average price of $32.38. The company has a market cap of $13.60 billion, a P/E ratio of -19.74 and a beta of 3.45. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm has a 1 year low of $15.97 and a 1 year high of $52.48.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AFRM. Ridgewood Investments LLC acquired a new position in shares of Affirm during the 2nd quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new stake in Affirm in the 4th quarter valued at approximately $33,000. Global Wealth Strategies & Associates grew its holdings in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Affirm by 82.4% in the 2nd 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 last quarter. Finally, ORG Partners LLC grew its holdings in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares during the last quarter. 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.