Affirm (NASDAQ:AFRM) Hits New 12-Month High – What’s Next?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $79.82 and last traded at $78.74, with a volume of 497882 shares traded. The stock had previously closed at $79.28.

Analysts Set New Price Targets

AFRM has been the subject of several research analyst reports. JMP Securities raised their price objective on Affirm from $78.00 to $85.00 and gave the company 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 boosted their price objective for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Bank of America raised their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, William Blair began coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $70.24.

Affirm Trading Up 1.8 %

The firm has a market capitalization of $25.34 billion, a price-to-earnings ratio of -124.14 and a beta of 3.66. 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 business has a fifty day moving average price of $63.89 and a 200 day moving average price of $51.11.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.29% and a negative net margin of 7.10%. As a group, equities analysts forecast that Affirm Holdings, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.98, for a total transaction of $1,109,612.28. Following the sale, the director now directly owns 109,780 shares in the company, valued at approximately $7,572,624.40. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Linford sold 400,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,038,626 shares of company stock valued at $70,690,871 over the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hanseatic Management Services Inc. lifted its holdings in Affirm by 12.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after buying an additional 194 shares in the last quarter. KBC Group NV lifted its stake in shares of Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after acquiring an additional 222 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Affirm by 29.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock valued at $87,000 after purchasing an additional 325 shares in the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Affirm by 78.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock worth $46,000 after purchasing an additional 332 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.