Affirm (NASDAQ:AFRM) Stock Price Up 4.9% – What’s Next?

Affirm Holdings, Inc. (NASDAQ:AFRM) shares were up 4.9% during mid-day trading on Thursday . The stock traded as high as $67.35 and last traded at $66.42. Approximately 1,893,029 shares traded hands during trading, a decline of 79% from the average daily volume of 8,995,360 shares. The stock had previously closed at $63.34.

Analyst Ratings Changes

AFRM has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday. Barclays boosted their target price on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Mizuho increased their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus target price of $59.80.

Affirm Price Performance

The stock has a market capitalization of $19.76 billion, a price-to-earnings ratio of -44.32 and a beta of 3.66. The company’s 50-day simple moving average is $56.66 and its 200-day simple moving average is $41.50. 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 released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period last year, the firm posted ($0.57) EPS. Research analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other Affirm news, CFO Robert O’hare sold 100,938 shares of Affirm 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 legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Katherine Adkins sold 200,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,300,851 shares of company stock valued at $84,875,518. 12.41% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James & Associates increased its holdings in Affirm by 40.1% in the 2nd quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock valued at $2,102,000 after buying an additional 19,920 shares during the period. Bank of New York Mellon Corp boosted its position 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares in the last quarter. Atomi Financial Group Inc. increased its stake in Affirm by 1.1% in the second quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock valued at $2,158,000 after acquiring an additional 753 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Affirm during the second quarter valued at approximately $27,000. Institutional investors and hedge funds 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.