Affirm (NASDAQ:AFRM) Reaches New 1-Year High After Analyst Upgrade

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high on Monday after Barclays raised their price target on the stock from $64.00 to $75.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $70.20 and last traded at $69.57, with a volume of 2945524 shares trading hands. The stock had previously closed at $66.55.

Several other equities analysts also recently weighed in on AFRM. The Goldman Sachs Group lifted their price target on shares of Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a report on Monday, October 14th. Susquehanna upped their target price on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Mizuho raised their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 8th. Finally, Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Affirm currently has an average rating of “Hold” and an average target price of $51.13.

Insider Activity at Affirm

In related news, CFO Robert O’hare sold 100,938 shares of the 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 document filed with the SEC, which is accessible through this hyperlink. Also, President Libor Michalek sold 96,332 shares of Affirm stock in a transaction on Monday, November 25th. The stock was sold at an average price of $70.01, for a total transaction of $6,744,203.32. Following the transaction, the president now directly owns 159,449 shares of the company’s stock, valued at $11,163,024.49. The trade was a 37.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 868,253 shares of company stock valued at $52,186,668 over the last 90 days. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. KBC Group NV raised its holdings 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 buying an additional 222 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after purchasing an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 buying an additional 540 shares during the period. ORG Partners LLC lifted its holdings in Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares in the last quarter. Finally, Myecfo LLC boosted its position in Affirm by 5.0% in the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after buying an additional 589 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

The firm has a market capitalization of $20.81 billion, a P/E ratio of -46.67 and a beta of 3.47. The stock’s 50 day simple moving average is $47.39 and its 200 day simple moving average is $37.01. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. As a group, analysts expect that Affirm Holdings, Inc. will post -0.53 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.