Affirm (NASDAQ:AFRM) Sets New 12-Month High After Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price reached a new 52-week high during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $45.00 to $75.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Affirm traded as high as $73.27 and last traded at $72.89, with a volume of 3557084 shares. The stock had previously closed at $70.70.

A number of other research analysts also recently issued reports on AFRM. Barclays lifted their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. raised their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. 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. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Affirm has a consensus rating of “Hold” and an average price target of $58.21.

Insider Activity

In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The trade was a 47.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Libor Michalek sold 2,847 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $70.00, for a total value of $199,290.00. Following the completion of the transaction, the president now owns 159,449 shares of the company’s stock, valued at $11,161,430. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,380,667 shares of company stock valued at $88,399,613 over the last quarter. Corporate insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new position in shares of Affirm during the 3rd quarter worth $2,644,000. Tidal Investments LLC increased its holdings in Affirm by 208.6% during the 3rd quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after acquiring an additional 14,720 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Affirm during the third quarter worth about $244,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Affirm in the third quarter valued at approximately $1,618,000. Finally, Main Management ETF Advisors LLC purchased a new position in shares of Affirm during the 3rd quarter worth approximately $2,629,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Price Performance

The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company has a 50-day moving average of $54.98 and a 200-day moving average of $40.74. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of -49.79 and a beta of 3.66.

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 analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the previous year, the firm posted ($0.57) earnings per share. As a group, equities research analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

About Affirm

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.