Affirm Holdings, Inc. (NASDAQ:AFRM) Receives $41.50 Average Price Target from Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $41.50.

AFRM has been the subject of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. The Goldman Sachs Group increased their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Wells Fargo & Company raised Affirm from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $52.00 in a report on Friday, October 11th. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the transaction, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Affirm news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,075 shares of company stock worth $4,803,786 in the last three months. Corporate insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently modified their holdings of AFRM. Ridgewood Investments LLC purchased a new position in shares of Affirm during the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm during the third quarter worth $29,000. Allspring Global Investments Holdings LLC grew its position in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the period. ORG Partners LLC increased its stake in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in Affirm by 255.1% during the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after buying an additional 954 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $43.99 on Friday. 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 stock has a market cap of $13.60 billion, a P/E ratio of -19.73 and a beta of 3.50. The stock has a 50 day moving average of $39.41 and a two-hundred day moving average of $33.72. Affirm has a twelve month low of $15.97 and a twelve month high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.31. The firm had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, research analysts forecast that Affirm will post -0.82 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.