Affirm (NASDAQ:AFRM) Trading Up 12.1% After Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price shot up 12.1% during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $52.00 to $55.00. Wells Fargo & Company currently has an overweight rating on the stock. Affirm traded as high as $52.20 and last traded at $52.11. 7,025,093 shares changed hands during trading, a decline of 20% from the average session volume of 8,824,248 shares. The stock had previously closed at $46.48.

Other equities research analysts have also recently issued research reports about the stock. Barclays lifted their price objective on shares of Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Mizuho restated an “outperform” rating and set a $65.00 price objective on shares of Affirm in a research report on Tuesday, August 27th. Bank of America boosted their target price on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. 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 report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.03.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the sale, the insider now directly owns 122,069 shares in the company, valued at approximately $5,493,105. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now directly owns 122,069 shares in the company, valued at approximately $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,800 shares of company stock valued at $4,554,288 over the last 90 days. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. ORG Wealth Partners LLC bought a new stake in Affirm during the 3rd quarter valued at $29,000. Ridgewood Investments LLC purchased a new position in shares of Affirm during the second quarter valued at $27,000. Advisors Asset Management Inc. raised its holdings in shares of Affirm by 168.2% in the third 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. Venturi Wealth Management LLC lifted its stake in Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Up 0.0 %

The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The firm has a market cap of $17.92 billion, a PE ratio of -39.35 and a beta of 3.47. The business’s 50-day simple moving average is $43.25 and its 200 day simple moving average is $35.07.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.77%. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. As a group, equities research analysts expect that Affirm Holdings, Inc. will post -0.62 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.