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

Affirm Holdings, Inc. (NASDAQ:AFRM) shares hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $56.00 to $74.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Affirm traded as high as $72.40 and last traded at $72.40, with a volume of 175612 shares changing hands. The stock had previously closed at $70.01.

A number of other research analysts have also recently weighed in on AFRM. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Wells Fargo & Company raised their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.73.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 79,039 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $70.01, for a total transaction of $5,533,520.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock valued at $52,186,668 over the last three months. 12.41% of the stock is currently owned by insiders.

Institutional Trading of Affirm

Several large investors have recently added to or reduced their stakes in AFRM. Comerica Bank raised its stake in shares of Affirm by 16.2% in the first quarter. Comerica Bank now owns 6,109 shares of the company’s stock worth $228,000 after acquiring an additional 850 shares during the last quarter. Cetera Advisors LLC raised its position in Affirm by 38.4% in the 1st quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock worth $269,000 after purchasing an additional 2,005 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Affirm by 35.3% during the 2nd quarter. GAMMA Investing LLC now owns 3,954 shares of the company’s stock worth $119,000 after buying an additional 1,031 shares in the last quarter. Mather Group LLC. boosted its position in Affirm by 951.2% in the 2nd quarter. Mather Group LLC. now owns 4,226 shares of the company’s stock valued at $128,000 after buying an additional 3,824 shares during the last quarter. Finally, Industry Ventures L.L.C. acquired a new stake in shares of Affirm in the 2nd quarter valued at $731,000. 69.29% of the stock is owned by institutional investors.

Affirm Trading Up 3.4 %

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 company has a market cap of $22.74 billion, a P/E ratio of -50.99 and a beta of 3.47. The business has a 50-day moving average price of $49.29 and a two-hundred day moving average price of $37.98.

Affirm (NASDAQ:AFRM) last released its earnings results 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 net margin of 17.67% and a negative return on equity of 12.57%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period in the prior year, the company posted ($0.57) EPS. On average, analysts predict that Affirm Holdings, Inc. will post -0.53 EPS 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.