Affirm (NASDAQ:AFRM) Reaches New 1-Year High After Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM) shares reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $54.00 to $64.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $59.49 and last traded at $58.91, with a volume of 2261987 shares trading hands. The stock had previously closed at $56.15.

AFRM has been the topic of a number of other reports. Bank of America increased their target price on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Mizuho restated an “outperform” rating and set a $65.00 price target on shares of Affirm in a research report on Tuesday, August 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.62.

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the transaction, the insider now owns 122,069 shares in the company, valued at $5,493,105. This represents a 4.75 % 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 three months. 12.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in Affirm in the third quarter worth approximately $1,618,000. Main Management ETF Advisors LLC acquired a new position in Affirm during the third quarter valued at approximately $2,629,000. XTX Topco Ltd grew its holdings in Affirm by 25.5% during the third quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock valued at $2,206,000 after purchasing an additional 10,970 shares during the last quarter. National Bank of Canada FI grew its holdings in Affirm by 127.3% during the third quarter. National Bank of Canada FI now owns 4,410 shares of the company’s stock valued at $180,000 after purchasing an additional 2,470 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Affirm in the third quarter worth $2,106,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Performance

The firm has a market cap of $18.67 billion, a price-to-earnings ratio of -40.04 and a beta of 3.47. The firm’s 50 day moving average price is $44.49 and its 200-day moving average price is $35.71. 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 quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (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 company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period last year, the business earned ($0.57) earnings per share. On average, analysts anticipate that Affirm Holdings, Inc. will post -0.53 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.