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

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price 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 changing hands. The stock had previously closed at $70.70.

Several other research firms have also commented on AFRM. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Barclays boosted their target price on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Bank of America raised their price target on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Susquehanna upped their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Finally, Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $58.21.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares in the company, valued at $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith Rabois sold 16,086 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $68.98, for a total value of $1,109,612.28. Following the completion of the sale, the director now owns 109,780 shares in the company, valued at approximately $7,572,624.40. The trade was a 12.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,380,667 shares of company stock worth $88,399,613 over the last three months. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in AFRM. ORG Wealth Partners LLC acquired a new stake in Affirm in the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of Affirm in the 2nd quarter valued at $27,000. Advisors Asset Management Inc. raised its holdings in shares of Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Up 3.1 %

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 has a market cap of $22.88 billion, a PE ratio of -51.31 and a beta of 3.66. The firm has a fifty day moving average of $55.66 and a 200 day moving average of $41.05.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the prior year, the business posted ($0.57) EPS. On average, equities research analysts anticipate 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.