Affirm (NASDAQ:AFRM) Shares Gap Up to $30.44

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $30.44, but opened at $32.83. Affirm shares last traded at $31.44, with a volume of 3,047,304 shares trading hands.

Analysts Set New Price Targets

AFRM has been the subject of several recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $43.00 price target on shares of Affirm in a research note on Friday, May 24th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. BMO Capital Markets cut their price target on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. BTIG Research began coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Hold” and an average price target of $27.97.

Affirm Stock Up 5.8 %

The firm has a 50-day moving average of $32.03 and a two-hundred day moving average of $37.58. The company has a market capitalization of $11.05 billion, a PE ratio of -16.03 and a beta of 3.47. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. During the same period last year, the business posted ($0.69) earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. Equities research analysts predict that Affirm Holdings, Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the sale, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.05% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after buying an additional 470 shares in the last quarter. Treasurer of the State of North Carolina raised its stake in Affirm by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock valued at $2,032,000 after buying an additional 480 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Affirm in the fourth quarter valued at $25,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Affirm in the fourth quarter valued at $33,000. 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.