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

Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high during trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $45.00 to $75.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Affirm traded as high as $73.27 and last traded at $72.89, with a volume of 3557084 shares. The stock had previously closed at $70.70.

A number of other equities analysts also recently commented on AFRM. Mizuho upped their target price on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. 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. Susquehanna increased their price target on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Barclays lifted their price objective on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.21.

Insider Activity

In other news, COO Michael Linford sold 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This trade represents a 82.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,298,351 shares of company stock valued at $84,695,393. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Raymond James & Associates grew its position in shares of Affirm by 40.1% during the 2nd quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock valued at $2,102,000 after acquiring an additional 19,920 shares during the period. Bank of New York Mellon Corp boosted its position in Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after purchasing an additional 176,675 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 buying an additional 540 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Affirm by 1.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock worth $2,158,000 after buying an additional 753 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Affirm during the 2nd quarter valued at approximately $27,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Down 2.7 %

The stock has a market cap of $22.26 billion, a price-to-earnings ratio of -49.92 and a beta of 3.66. The business’s 50 day moving average is $56.26 and its 200-day moving average is $41.34. 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 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 net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter last year, the business earned ($0.57) earnings per share. On average, sell-side analysts predict 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.