Affirm (NASDAQ:AFRM) Shares Up 4.9% – Here’s Why

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price was up 4.9% during trading on Thursday . The stock traded as high as $67.35 and last traded at $66.42. Approximately 1,893,029 shares changed hands during trading, a decline of 79% from the average daily volume of 8,995,360 shares. The stock had previously closed at $63.34.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AFRM shares. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and upped their price target for the stock from $70.00 to $82.00 in a report on Thursday. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday. Mizuho upped their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Susquehanna lifted their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Stock Up 4.2 %

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 firm’s 50-day moving average price is $57.45 and its 200 day moving average price is $41.90. The firm has a market cap of $20.61 billion, a P/E ratio of -46.23 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its quarterly 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 for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter last year, the business earned ($0.57) earnings per share. As a group, research analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Insider Transactions at Affirm

In other news, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the completion of the sale, 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. Over the last quarter, insiders sold 1,300,851 shares of company stock valued at $84,875,518. 12.41% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV grew its stake in shares of Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc grew its position in Affirm by 3.2% in the third 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 increased its holdings 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. Myecfo LLC lifted its position in shares of Affirm by 5.0% during the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after acquiring an additional 589 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.