Affirm (NASDAQ:AFRM) Trading 12.7% Higher on Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price traded up 12.7% on Monday after The Goldman Sachs Group raised their price target on the stock from $45.00 to $58.00. The Goldman Sachs Group currently has a buy rating on the stock. Affirm traded as high as $51.91 and last traded at $52.33. 8,991,234 shares were traded during mid-day trading, an increase of 6% from the average session volume of 8,447,348 shares. The stock had previously closed at $46.41.

Other analysts also recently issued reports about the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 price objective on shares of Affirm in a research report on Thursday, March 20th. Wells Fargo & Company cut their price objective on shares of Affirm from $85.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, February 7th. Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research report on Monday, March 24th. Finally, Morgan Stanley lowered their target price on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.05.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the transaction, the director now owns 61,520 shares of the company’s stock, valued at $3,935,434.40. The trade was a 20.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares in the company, valued at $10,986,000. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,765 shares of company stock valued at $3,094,694 in the last quarter. Insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AFRM. Hanseatic Management Services Inc. lifted its position in Affirm by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after buying an additional 194 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in Affirm by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock valued at $2,219,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted its position in Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares during the period. HB Wealth Management LLC lifted its position in Affirm by 2.2% during the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company’s stock valued at $518,000 after purchasing an additional 252 shares during the period. Finally, Amalgamated Bank lifted its position in Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock valued at $622,000 after purchasing an additional 280 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Stock Up 15.8%

The firm has a market capitalization of $17.09 billion, a price-to-earnings ratio of -82.68 and a beta of 3.66. The business’s 50-day moving average is $46.32 and its two-hundred day moving average is $56.90. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to analysts’ expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the business earned ($0.43) EPS. On average, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share 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.