Affirm Holdings, Inc. (NASDAQ:AFRM) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have been given a consensus rating of “Hold” by the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $46.03.

A number of equities research analysts have recently issued reports on AFRM shares. Mizuho reissued an “outperform” rating and set a $65.00 price objective on shares of Affirm in a research report on Tuesday, August 27th. Morgan Stanley raised 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 report on Wednesday, October 9th. Bank of America boosted their price target on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their price target on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Susquehanna boosted their price target on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th.

Affirm Stock Performance

Affirm stock opened at $54.82 on Thursday. The stock’s 50 day simple moving average is $43.86 and its two-hundred day simple moving average is $35.38. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of -38.61 and a beta of 3.47. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $59.27.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share 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 analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the previous year, the business earned ($0.57) EPS. As a group, analysts expect that Affirm will post -0.6 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 403,738 shares of company stock valued at $21,115,878 in the last ninety days. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AFRM. Ridgewood Investments LLC purchased a new stake in shares of Affirm during the 2nd quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in Affirm in the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC boosted its holdings in Affirm by 82.4% in 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 during the period. ORG Partners LLC boosted its holdings in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the period. 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.