Affirm Holdings, Inc. (NASDAQ:AFRM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $60.94.

Several brokerages have issued reports on AFRM. Susquehanna increased their target price on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Tuesday, October 8th. Wells Fargo & Company increased their price objective on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd.

Affirm Trading Down 5.8 %

AFRM opened at $61.29 on Friday. 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’s fifty day moving average is $62.20 and its two-hundred day moving average is $44.81. The company has a market capitalization of $19.25 billion, a P/E ratio of -43.16 and a beta of 3.67. Affirm has a 52 week low of $22.25 and a 52 week high of $73.34.

Affirm (NASDAQ:AFRM) last posted its earnings results 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 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 the consensus estimate of $661.39 million. During the same quarter last year, the firm posted ($0.57) EPS. Analysts forecast that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. The trade was a 68.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the transaction, the director now directly owns 93,694 shares of the company’s stock, valued at $5,839,010.08. This trade represents a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,323,478 shares of company stock valued at $86,285,371. 12.41% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AFRM. ORG Wealth Partners LLC acquired a new position in shares of Affirm in the 3rd quarter valued at $29,000. Allspring Global Investments Holdings LLC increased its position in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the period. Advisors Asset Management Inc. increased its position in Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the period. Venturi Wealth Management LLC raised its position in shares of Affirm by 200.5% during the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the last quarter. Finally, Hanseatic Management Services Inc. bought a new stake in shares of Affirm in the 3rd quarter worth approximately $65,000. 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.