Affirm (NASDAQ:AFRM) Sets New 52-Week High Following Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $57.00 to $78.00. The Goldman Sachs Group currently has a buy rating on the stock. Affirm traded as high as $72.40 and last traded at $72.40, with a volume of 175612 shares traded. The stock had previously closed at $70.01.

A number of other brokerages have also recently issued reports on AFRM. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price objective on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Bank of America increased their target price on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Mizuho increased their target price on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affirm currently has an average rating of “Hold” and an average target price of $55.33.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock worth $52,186,668 in the last three months. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Large investors have recently made changes to their positions in the business. Bank of Montreal Can increased its stake in Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Affirm in the 3rd quarter worth approximately $1,419,000. International Assets Investment Management LLC acquired a new position in shares of Affirm in the 3rd quarter worth approximately $731,000. Quest Partners LLC acquired a new position in shares of Affirm in the 3rd quarter worth approximately $391,000. Finally, Entropy Technologies LP acquired a new position in shares of Affirm in the 3rd quarter worth approximately $464,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Down 2.3 %

The firm has a market capitalization of $21.48 billion, a price-to-earnings ratio of -47.77 and a beta of 3.47. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a fifty day moving average price of $49.29 and a 200 day moving average price of $38.02.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the firm earned ($0.57) EPS. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal 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.