Affirm Holdings, Inc. (NASDAQ:AFRM) Receives Average Rating of “Moderate Buy” from Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $60.94.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, October 8th. 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th.

Affirm Stock Up 2.6 %

Shares of NASDAQ:AFRM opened at $62.51 on Friday. The firm has a fifty day moving average price of $60.85 and a two-hundred day moving average price of $43.90. The company has a market cap of $19.63 billion, a price-to-earnings ratio of -44.02 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a one year low of $22.25 and a one year high of $73.34.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (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 analyst estimates 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 quarter last year, the company earned ($0.57) earnings per share. Analysts anticipate that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at $5,149,652.25. This represents a 68.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the transaction, the director now owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock valued at $84,875,518 over the last ninety days. 12.41% of the stock is owned by insiders.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can grew its stake in shares of Affirm by 2,305.3% in the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after buying an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Affirm in the third quarter worth $1,419,000. Quest Partners LLC purchased a new stake in shares of Affirm in the third quarter worth $391,000. International Assets Investment Management LLC bought a new position in shares of Affirm during the third quarter valued at $731,000. Finally, Entropy Technologies LP purchased a new position in shares of Affirm in the 3rd quarter worth about $464,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.