Brokerages Set Affirm Holdings, Inc. (NASDAQ:AFRM) PT at $55.33

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have earned an average rating of “Hold” from the sixteen ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $55.36.

A number of analysts have commented on AFRM shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $46.00 target price on shares of Affirm in a research report on Friday, October 4th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Bank of America increased their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Finally, Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th.

Affirm Stock Performance

Shares of AFRM opened at $70.70 on Monday. The company has a market capitalization of $22.20 billion, a PE ratio of -49.79 and a beta of 3.66. Affirm has a 52-week low of $22.25 and a 52-week high of $72.82. The company has a 50-day simple moving average of $54.98 and a 200-day simple moving average of $40.74. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period last year, the company posted ($0.57) earnings per share. Equities research analysts predict that Affirm will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This represents a 47.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the sale, the chief operating officer now owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This trade represents a 82.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,380,667 shares of company stock valued at $88,399,613 in the last quarter. 12.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Spyglass Capital Management LLC boosted its holdings in shares of Affirm by 9.3% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after acquiring an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in Affirm during the second quarter valued at about $45,219,000. Bank of New York Mellon Corp increased its stake in Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new position in shares of Affirm in the 3rd quarter worth about $30,808,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.