Affirm Holdings, Inc. (NASDAQ:AFRM) Given Average Rating of “Moderate Buy” by Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $60.94.

AFRM has been the topic of a number of recent research reports. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Mizuho lifted their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Bank of America increased their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Susquehanna lifted their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Finally, JMP Securities upgraded Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a research note on Friday, December 20th.

Affirm Trading Down 5.8 %

Shares of NASDAQ AFRM opened at $61.29 on Friday. The company has a market cap of $19.25 billion, a PE ratio of -43.16 and a beta of 3.67. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a 50-day moving average of $62.20 and a two-hundred day moving average of $44.81. Affirm has a 1-year low of $22.25 and a 1-year high of $73.34.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share 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 period last year, the company posted ($0.57) EPS. As a group, equities analysts expect that Affirm will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total value of $1,002,479.52. Following the completion of the sale, the director now directly owns 93,694 shares in the company, valued at approximately $5,839,010.08. This trade represents a 14.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now owns 93,545 shares in the company, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,323,478 shares of company stock valued at $86,285,371. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Hedge funds have recently bought and sold shares of the business. KBC Group NV grew its holdings in Affirm by 3.6% during the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares during the period. Versant Capital Management Inc raised its holdings in Affirm by 20.8% in the fourth quarter. Versant Capital Management Inc now owns 3,405 shares of the company’s stock worth $207,000 after purchasing an additional 586 shares in the last quarter. Finally, Myecfo LLC lifted its position in Affirm by 5.0% during the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after acquiring an additional 589 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.