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

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $54.00 to $64.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $59.49 and last traded at $58.91, with a volume of 2261987 shares traded. The stock had previously closed at $56.15.

Several other research firms have also issued reports on AFRM. Mizuho restated an “outperform” rating and set a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Bank of America lifted their price objective on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.62.

Insider Buying and Selling at Affirm

In other 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 available through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the 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 in the company, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 403,738 shares of company stock valued at $21,115,878 in the last ninety days. 12.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV lifted its position in shares of Affirm by 3.6% during the 3rd 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 last quarter. CIBC Asset Management Inc lifted its position in shares of Affirm by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after buying an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 540 shares during the last quarter. ORG Partners LLC raised its position in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Myecfo LLC raised its position in Affirm by 5.0% in the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after purchasing an additional 589 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Up 5.9 %

The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The stock has a market capitalization of $18.67 billion, a P/E ratio of -40.04 and a beta of 3.47. The firm has a 50-day simple moving average of $44.49 and a 200 day simple moving average of $35.71.

Affirm (NASDAQ:AFRM) last posted 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 firm had revenue of $698.48 million during the quarter, compared to the consensus estimate 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 company earned ($0.57) earnings per share. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current 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.