Affirm (NASDAQ:AFRM) Stock Price Up 6.3% – Here’s Why

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price rose 6.3% during trading on Wednesday . The company traded as high as $45.50 and last traded at $46.44. Approximately 951,305 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 8,000,473 shares. The stock had previously closed at $43.70.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AFRM shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. JMP Securities boosted their target price on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective on Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $69.76.

Affirm Stock Up 0.5 %

The firm’s fifty day simple moving average is $60.78 and its two-hundred day simple moving average is $55.89. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of -73.77 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling at Affirm

In related news, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the transaction, the director now owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now owns 137,325 shares of the company’s stock, valued at $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock worth $3,920,543 over the last three months. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. increased its position in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the period. R Squared Ltd acquired a new stake in shares of Affirm in the fourth quarter valued at $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Affirm in the fourth quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Affirm in the fourth quarter valued at $43,000. 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.