Affirm Holdings, Inc. (NASDAQ:AFRM) Given Average Recommendation of “Moderate Buy” by Analysts

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned an average rating of “Moderate Buy” from the twenty-nine research firms that are presently covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $88.48.

Several equities research analysts have commented on AFRM shares. Citigroup raised their price target on shares of Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Bank of America increased their price objective on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Cantor Fitzgerald raised their target price on Affirm from $61.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Needham & Company LLC boosted their price target on Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Citizens Jmp decreased their price target on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th.

Insider Activity

In related 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 value of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,000 shares of company stock valued at $8,244,000 in the last ninety days. Corporate insiders own 11.01% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock valued at $1,849,378,000 after purchasing an additional 428,138 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after buying an additional 104,239 shares during the period. Capital World Investors boosted its stake in Affirm by 2.4% during the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after buying an additional 507,224 shares in the last quarter. Durable Capital Partners LP grew its holdings in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after acquiring an additional 808,455 shares during the period. Finally, State Street Corp grew its holdings in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after acquiring an additional 1,187,665 shares during the period. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Performance

Shares of AFRM traded down $0.79 during midday trading on Tuesday, hitting $84.99. 467,502 shares of the stock traded hands, compared to its average volume of 5,707,335. Affirm has a 1-year low of $42.10 and a 1-year high of $100.00. The firm has a market capitalization of $28.46 billion, a PE ratio of 77.37, a price-to-earnings-growth ratio of 3.48 and a beta of 3.67. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The business’s 50 day moving average price is $70.14 and its two-hundred day moving average price is $63.36.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS. Equities research analysts predict that Affirm will post 1.24 EPS for the current fiscal year.

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.