Affirm Holdings, Inc. (NASDAQ:AFRM) Receives $61.88 Average Target Price from Analysts

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have received a consensus rating of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.88.

AFRM has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on shares of Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Morgan Stanley lifted their price objective on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday. Mizuho increased their target price on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. JMP Securities raised Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research report on Friday, December 20th. Finally, BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, October 8th.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now directly owns 93,545 shares in the company, valued at $5,149,652.25. This represents a 68.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction on Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the transaction, the director now directly owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,323,478 shares of company stock worth $86,285,371. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new position in Affirm during the 2nd quarter worth about $3,516,000. Sei Investments Co. lifted its position in shares of Affirm by 33.2% during the second quarter. Sei Investments Co. now owns 54,993 shares of the company’s stock worth $1,661,000 after purchasing an additional 13,698 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after purchasing an additional 187,790 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Affirm by 2.5% in the second quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock valued at $880,000 after purchasing an additional 722 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Affirm by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock worth $1,558,000 after purchasing an additional 3,105 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Up 5.3 %

NASDAQ AFRM opened at $62.10 on Tuesday. 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 has a 1-year low of $22.25 and a 1-year high of $73.34. The firm’s fifty day simple moving average is $63.66 and its 200-day simple moving average is $47.84. The company has a market capitalization of $19.50 billion, a PE ratio of -43.73 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for 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 in the prior year, the firm posted ($0.57) EPS. As a group, sell-side analysts anticipate that Affirm will post -0.62 earnings per share for the current fiscal year.

Affirm Company Profile

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.