Affirm (NASDAQ:AFRM) Stock Price Up 6.3% – Still a Buy?

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) were up 6.3% during trading on Wednesday . The company traded as high as $45.50 and last traded at $46.44. Approximately 951,305 shares were traded during trading, a decline of 88% from the average daily volume of 8,000,473 shares. The stock had previously closed at $43.70.

Analyst Upgrades and Downgrades

AFRM has been the subject of several research analyst reports. UBS Group upped their price objective on shares of Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Barclays raised their price objective on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and a consensus target price of $68.41.

Affirm Stock Performance

The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The stock has a market cap of $14.94 billion, a price-to-earnings ratio of -72.26 and a beta of 3.63. The stock’s 50-day moving average is $61.22 and its 200 day moving average is $56.00.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the sale, the director now directly owns 77,608 shares in the company, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.28, for a total transaction of $407,373.48. Following the sale, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. The trade was a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,801 shares of company stock worth $3,806,093. Company insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. raised its position in shares of Affirm by 10.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 24,902 shares of the company’s stock worth $1,016,000 after purchasing an additional 2,432 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Affirm in the 3rd quarter worth approximately $1,419,000. KBC Group NV grew its stake in Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc grew its stake in shares of Affirm by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after buying an additional 233 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in shares of Affirm during the 3rd quarter valued at $759,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.