Affirm (NASDAQ:AFRM) Hits New 1-Year High on Analyst Upgrade

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high on Monday after Barclays raised their price target on the stock from $64.00 to $75.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $70.20 and last traded at $69.57, with a volume of 2945524 shares changing hands. The stock had previously closed at $66.55.

AFRM has been the topic of several other research reports. Morgan Stanley raised 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 research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Mizuho raised their price objective on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Bank of America raised their price objective on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.13.

Insider Buying and Selling

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the transaction, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert O’hare sold 79,039 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $70.01, for a total value of $5,533,520.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 671,100 shares of company stock worth $38,575,547. 12.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in Affirm by 208.6% during the 3rd quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after buying an additional 14,720 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $244,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $1,618,000. Main Management ETF Advisors LLC bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $2,629,000. Finally, XTX Topco Ltd lifted its stake in shares of Affirm by 25.5% in the 3rd quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock valued at $2,206,000 after purchasing an additional 10,970 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

The firm has a market capitalization of $21.78 billion, a P/E ratio of -48.84 and a beta of 3.47. The firm has a 50 day moving average price of $47.39 and a 200-day moving average price of $37.01. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) EPS. On average, analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share 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.