Affirm (NASDAQ:AFRM) Cut to “Hold” at Zacks Research

Affirm (NASDAQ:AFRM) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently commented on AFRM. JPMorgan Chase & Co. lifted their target price on shares of Affirm from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Truist Financial boosted their price objective on shares of Affirm from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. UBS Group increased their price objective on Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Cantor Fitzgerald lifted their target price on Affirm from $80.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, Mizuho raised their price objective on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.62.

Affirm Price Performance

Shares of AFRM opened at $76.46 on Tuesday. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a market cap of $25.61 billion, a PE ratio of 69.51, a PEG ratio of 3.16 and a beta of 3.71. Affirm has a 12-month low of $42.10 and a 12-month high of $100.00. The business has a 50-day simple moving average of $77.30 and a two-hundred day simple moving average of $64.36.

Insider Buying and Selling at Affirm

In other news, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Greenline Wealth Management LLC bought a new position in shares of Affirm during the 4th quarter worth approximately $26,000. Triumph Capital Management purchased a new position in Affirm in the third quarter worth $31,000. Strive Financial Group LLC bought a new position in Affirm in the 4th quarter valued at $33,000. Larson Financial Group LLC raised its stake in shares of Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares during the period. Finally, Bogart Wealth LLC boosted its holdings in shares of Affirm by 2,381.0% in the 4th quarter. Bogart Wealth LLC now owns 521 shares of the company’s stock worth $39,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.