Affirm Holdings, Inc. (NASDAQ:AFRM) Receives $60.94 Average Target Price from Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has received a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $60.94.

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Mizuho upped their price objective on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company lifted their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, JMP Securities raised Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective on the stock in a research note on Friday, December 20th.

Affirm Trading Up 6.4 %

Shares of NASDAQ:AFRM opened at $66.50 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm has a 1 year low of $22.25 and a 1 year high of $73.34. The company has a market cap of $20.88 billion, a P/E ratio of -46.83 and a beta of 3.66. The stock’s fifty day moving average price is $61.37 and its 200-day moving average price is $44.34.

Affirm (NASDAQ:AFRM) last posted 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 analysts’ expectations of $661.39 million. During the same quarter in the prior year, the business earned ($0.57) EPS. Sell-side analysts expect that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the sale, the director now directly owns 93,694 shares in the company, valued at approximately $5,839,010.08. This represents a 14.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total value of $407,373.48. Following the completion of the transaction, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. This represents a 68.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,323,478 shares of company stock worth $86,285,371. Corporate insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in shares of Affirm by 25.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Allspring Global Investments Holdings LLC grew 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 worth $36,000 after purchasing an additional 540 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Affirm by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 12,548 shares of the company’s stock worth $379,000 after purchasing an additional 680 shares during the last quarter. CIBC Asset Management Inc increased its stake in Affirm by 29.3% in the 2nd quarter. CIBC Asset Management Inc now owns 7,287 shares of the company’s stock worth $220,000 after buying an additional 1,650 shares during the period. Finally, Rhumbline Advisers boosted its position in Affirm by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 235,895 shares of the company’s stock valued at $7,126,000 after buying an additional 6,185 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.