Affirm (NASDAQ:AFRM) Shares Gap Up – Here’s Why

Affirm Holdings, Inc. (NASDAQ:AFRMGet Free Report)’s share price gapped up before the market opened on Friday . The stock had previously closed at $56.76, but opened at $59.04. Affirm shares last traded at $57.10, with a volume of 1,417,063 shares.

Analyst Ratings Changes

A number of brokerages have issued reports on AFRM. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Wednesday. Susquehanna lowered shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. Finally, Wells Fargo & Company raised their target price on Affirm from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

View Our Latest Stock Analysis on AFRM

Affirm Price Performance

The firm has a market capitalization of $17.50 billion, a price-to-earnings ratio of -39.25 and a beta of 3.67. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock’s 50-day moving average price is $64.08 and its 200 day moving average price is $47.15.

Affirm (NASDAQ:AFRMGet Free Report) last issued its earnings results 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. 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 during the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the business earned ($0.57) EPS. Equities research analysts expect that Affirm Holdings, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is available at the SEC website. Also, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the sale, the president now directly owns 160,601 shares of the company’s stock, valued at $11,576,120.08. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,323,478 shares of company stock valued at $86,285,371 over the last ninety days. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several large investors have recently made changes to their positions in AFRM. Valley National Advisers Inc. acquired a new stake in Affirm in the 4th quarter valued at approximately $61,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Affirm in the fourth quarter valued at $338,000. Waldron Private Wealth LLC raised its holdings in shares of Affirm by 7.0% in the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock valued at $334,000 after buying an additional 357 shares during the period. TriaGen Wealth Management LLC acquired a new position in Affirm during the 4th quarter worth about $585,000. Finally, Caprock Group LLC boosted its holdings in Affirm by 9.1% during the 4th quarter. Caprock Group LLC now owns 9,240 shares of the company’s stock valued at $563,000 after acquiring an additional 770 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Company Profile

(Get Free Report)

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.

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