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

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $54.00 to $64.00. Barclays currently has an overweight rating on the stock. Affirm traded as high as $59.49 and last traded at $58.91, with a volume of 2261987 shares. The stock had previously closed at $56.15.

A number of other equities research analysts have also issued reports on AFRM. Mizuho restated an “outperform” rating and issued a $65.00 price target on shares of Affirm in a research report on Tuesday, August 27th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Tuesday, October 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a report on Friday, October 4th. The Goldman Sachs Group lifted their target price on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Bank of America increased their price target on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.62.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction that occurred 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 403,738 shares of company stock valued at $21,115,878. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Affirm by 5.6% during the 1st quarter. US Bancorp DE now owns 17,166 shares of the company’s stock worth $640,000 after purchasing an additional 914 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in Affirm in the first quarter valued at about $258,000. Vanguard Group Inc. raised its holdings in shares of Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Affirm in the 1st quarter worth approximately $535,000. Finally, Freestone Capital Holdings LLC bought a new position in Affirm in the 1st quarter worth about $730,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Trading Up 10.5 %

The business’s 50 day moving average is $44.96 and its two-hundred day moving average is $35.90. 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 firm has a market capitalization of $19.49 billion, a P/E ratio of -43.70 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same period in the previous year, the firm earned ($0.57) earnings per share. Analysts expect 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.