Affirm (NASDAQ:AFRM) Reaches New 52-Week High After Better-Than-Expected Earnings

Affirm Holdings, Inc. (NASDAQ:AFRM) shares reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $76.88 and last traded at $75.02, with a volume of 11350427 shares trading hands. The stock had previously closed at $61.75.

The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday. The Goldman Sachs Group raised their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Susquehanna cut Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, Barclays upped their target price on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 6,629 shares of Affirm stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $72.08, for a total value of $477,818.32. Following the sale, the president now directly owns 160,601 shares in the company, valued at $11,576,120.08. This trade represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated 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. Insiders sold a total of 1,339,564 shares of company stock worth $87,252,461 over the last ninety days. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance boosted its position in Affirm by 9.6% during the 4th quarter. Independent Advisor Alliance now owns 18,024 shares of the company’s stock worth $1,098,000 after acquiring an additional 1,575 shares during the period. SLT Holdings LLC acquired a new stake in Affirm in the fourth quarter worth about $247,000. Amundi lifted its holdings in Affirm by 107.5% in the fourth quarter. Amundi now owns 603,437 shares of the company’s stock worth $35,404,000 after purchasing an additional 312,620 shares during the period. West Family Investments Inc. bought a new position in Affirm in the 4th quarter valued at about $296,000. Finally, Raymond James Financial Inc. acquired a new position in Affirm during the 4th quarter valued at about $14,591,000. 69.29% of the stock is owned by institutional investors.

Affirm Price Performance

The business’s 50-day simple moving average is $63.09 and its 200 day simple moving average is $49.18. The company has a market capitalization of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

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.