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

Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high during trading on Monday after Mizuho raised their price target on the stock from $65.00 to $69.00. Mizuho currently has an outperform rating on the stock. Affirm traded as high as $59.49 and last traded at $58.91, with a volume of 2261987 shares. The stock had previously closed at $56.15.

AFRM has been the subject of a number of other research reports. Susquehanna boosted their price objective on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Wells Fargo & Company increased their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.85.

Insider Buying and Selling at Affirm

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 403,738 shares of company stock valued at $21,115,878 over the last quarter. 12.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new position in shares of Affirm during the third quarter worth $29,000. Ridgewood Investments LLC purchased a new position in Affirm in the second quarter valued at $27,000. Advisors Asset Management Inc. grew its stake in 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 purchasing an additional 671 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in 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 period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Affirm by 82.4% in the 2nd 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 during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

The stock’s 50 day moving average is $45.50 and its two-hundred day moving average is $36.11. The stock has a market capitalization of $20.09 billion, a PE ratio of -45.04 and a beta of 3.47. 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 (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. As a group, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share 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.