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UBS Group Begins Coverage on Affirm (NASDAQ:AFRM) - The AM Reporter

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Date: 2022-11-30 08:45:44

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Affirm Holdings, Inc. logoUBS Group assumed coverage on shares of Affirm (NASDAQ:AFRMGet Rating) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm issued a neutral rating and a $14.00 target price on the stock.

Other analysts have also recently issued research reports about the company. Morgan Stanley lowered their price target on Affirm from $53.00 to $52.00 and set an overweight rating for the company in a research report on Wednesday, November 9th. Bank of America cut their price target on Affirm from $45.00 to $38.00 and set a buy rating for the company in a research note on Tuesday, August 30th. Mizuho cut their price objective on Affirm from $50.00 to $42.00 and set a buy rating for the company in a research note on Wednesday, September 7th. Royal Bank of Canada cut their price objective on Affirm from $31.00 to $23.00 and set an outperform rating for the company in a research note on Wednesday, November 9th. Finally, Barclays dropped their price target on Affirm from $29.00 to $16.00 and set an overweight rating for the company in a research report on Thursday, November 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $28.89.

Affirm Price Performance

Shares of Affirm stock opened at $12.81 on Tuesday. The stock has a 50 day moving average of $17.56 and a 200 day moving average of $22.56. Affirm has a 12 month low of $11.94 and a 12 month high of $140.49. The firm has a market cap of $3.72 billion, a PE ratio of -5.64 and a beta of 3.08. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.68.

Affirm (NASDAQ:AFRMGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.04). The business had revenue of $361.62 million for the quarter, compared to the consensus estimate of $360.72 million. Affirm had a negative return on equity of 25.51% and a negative net margin of 45.24%. On average, research analysts expect that Affirm will post -3.48 EPS for the current fiscal year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 17,287 shares of Affirm stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $20.04, for a total transaction of $346,431.48. Following the transaction, the director now owns 86,434 shares in the company, valued at approximately $1,732,137.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.11% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Versor Investments LP grew its position in Affirm by 20.5% in the 2nd quarter. Versor Investments LP now owns 16,000 shares of the company’s stock worth $289,000 after purchasing an additional 2,720 shares during the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of Affirm in the 1st quarter worth approximately $429,000. Envestnet Asset Management Inc. lifted its stake in shares of Affirm by 37.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 35,429 shares of the company’s stock worth $640,000 after acquiring an additional 9,599 shares during the period. ACT Capital Management LLC acquired a new stake in Affirm during the first quarter valued at approximately $324,000. Finally, Treasurer of the State of North Carolina acquired a new stake in Affirm during the second quarter valued at approximately $1,341,000. Institutional investors own 72.76% of the company’s stock.

Affirm Company Profile

(Get Rating)

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 from one to sixty months.

See Also

Analyst Recommendations for Affirm (NASDAQ:AFRM)

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Original Source: https://reporter.am/2022/11/30/ubs-group-begins-coverage-on-affirm-nasdaqafrm.html