Affirm (NASDAQ:AFRM) Trading 12.1% Higher on Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price traded up 12.1% on Monday after Wells Fargo & Company raised their price target on the stock from $52.00 to $55.00. Wells Fargo & Company currently has an overweight rating on the stock. Affirm traded as high as $52.20 and last traded at $52.11. 7,025,093 shares traded hands during trading, a decline of 20% from the average session volume of 8,824,248 shares. The stock had previously closed at $46.48.

A number of other analysts have also weighed in on the stock. Mizuho reaffirmed an “outperform” rating and set a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Susquehanna boosted their price target on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Friday. Finally, Barclays boosted their price target on shares of Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.03.

Insider Activity at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,800 shares of company stock worth $4,554,288 in the last three months. 13.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AFRM. Dragoneer Investment Group LLC bought a new position in Affirm in the 2nd quarter worth $45,219,000. Vanguard Group Inc. raised its holdings in Affirm by 6.8% in the 1st 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 in the last quarter. Artemis Investment Management LLP bought a new position in Affirm in the 3rd quarter worth $30,808,000. Jupiter Asset Management Ltd. bought a new position in Affirm in the 1st quarter worth $20,150,000. Finally, Bank of Montreal Can raised its holdings in Affirm by 2,305.3% in the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after purchasing an additional 187,790 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Up 23.9 %

The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The company’s fifty day simple moving average is $43.25 and its 200 day simple moving average is $35.07. The firm has a market capitalization of $17.92 billion, a P/E ratio of -40.55 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.77%. During the same period last year, the business earned ($0.57) EPS. Research analysts expect that Affirm Holdings, Inc. will post -0.62 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.