Affirm (NASDAQ:AFRM) Sets New 12-Month High on Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM) hit a new 52-week high during trading on Monday after Barclays raised their price target on the stock from $54.00 to $64.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $59.49 and last traded at $58.91, with a volume of 2261987 shares trading hands. The stock had previously closed at $56.15.

A number of other equities analysts also recently commented on AFRM. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Mizuho reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Affirm in a report on Tuesday, August 27th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, September 6th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group upped their price target on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affirm has a consensus rating of “Hold” and a consensus price target of $46.62.

Insider Activity

In related news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katherine Adkins sold 82,316 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 47.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,738 shares of company stock valued at $21,115,878 over the last 90 days. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new stake in shares of Affirm during the second quarter worth $27,000. ORG Wealth Partners LLC acquired a new position in shares of Affirm during the third quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its position in shares of Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the period. ORG Partners LLC grew its holdings in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Trading Up 10.5 %

The stock has a market cap of $19.49 billion, a price-to-earnings ratio of -43.70 and a beta of 3.47. The business has a 50-day simple moving average of $44.96 and a two-hundred day simple moving average of $35.90. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same quarter last year, the firm earned ($0.57) earnings per share. As a group, research analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

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.