Affirm (NASDAQ:AFRM) Trading Up 6.7% – Here’s Why

Affirm Holdings, Inc. (NASDAQ:AFRM) shares traded up 6.7% during mid-day trading on Wednesday . The company traded as high as $45.75 and last traded at $45.73. 5,272,372 shares were traded during trading, a decline of 39% from the average session volume of 8,692,172 shares. The stock had previously closed at $42.87.

Analyst Upgrades and Downgrades

Several analysts recently commented on AFRM shares. The Goldman Sachs Group upped their target price on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a report on Monday, October 14th. Wells Fargo & Company raised shares of Affirm from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $52.00 in a research note on Friday, October 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $46.00 target price on shares of Affirm in a research note on Friday, October 4th. Bank of America upped their price target on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $43.08.

Affirm Stock Performance

The company has a market cap of $14.15 billion, a P/E ratio of -25.52 and a beta of 3.50. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The company’s 50-day moving average is $41.10 and its two-hundred day moving average is $34.08.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. Equities analysts predict that Affirm Holdings, Inc. will post -0.82 EPS for the current year.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the sale, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Keith Rabois sold 9,275 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 122,069 shares in the company, valued at $5,493,105. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,075 shares of company stock worth $4,803,786 in the last 90 days. 13.05% of the stock is owned by company insiders.

Institutional Trading of Affirm

Large investors have recently bought and sold shares of the company. State of Michigan Retirement System purchased a new stake in Affirm in the first quarter worth $1,002,000. Principal Financial Group Inc. boosted its position in shares of Affirm by 34.3% in the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock worth $710,000 after purchasing an additional 4,868 shares in the last quarter. HB Wealth Management LLC raised its stake in Affirm by 39.3% during the first quarter. HB Wealth Management LLC now owns 9,906 shares of the company’s stock valued at $369,000 after buying an additional 2,794 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of Affirm by 11.6% in the first quarter. Private Advisor Group LLC now owns 9,360 shares of the company’s stock worth $349,000 after acquiring an additional 975 shares during the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in shares of Affirm in the 1st quarter worth about $3,593,000. 69.29% of the stock is owned by institutional investors.

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.