Affirm (NASDAQ:AFRM) Trading 3.2% Higher – Here’s Why

by · The Markets Daily

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report) were up 3.2% during mid-day trading on Wednesday . The company traded as high as $42.98 and last traded at $42.46. Approximately 2,787,973 shares were traded during trading, a decline of 68% from the average daily volume of 8,632,152 shares. The stock had previously closed at $41.15.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AFRM. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Wedbush raised their target price on shares of Affirm from $20.00 to $25.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and set a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their price objective on shares of Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, Bank of America boosted their target price on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Affirm has a consensus rating of “Hold” and a consensus price target of $38.13.

View Our Latest Stock Analysis on AFRM

Affirm Trading Down 2.9 %

The company’s 50-day moving average is $36.41 and its 200 day moving average is $33.22. 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 firm has a market cap of $12.99 billion, a PE ratio of -18.84 and a beta of 3.50.

Affirm (NASDAQ:AFRM – Get Free Report) last released its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -0.82 EPS for the current year.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the transaction, the insider now owns 122,069 shares in the company, valued at $5,493,105. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Affirm news, insider Katherine Adkins sold 6,084 shares of Affirm 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 owns 122,069 shares of the company’s stock, valued at $5,493,105. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,075 shares of company stock worth $4,803,786. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

Large investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC acquired a new stake in Affirm in the second quarter valued at approximately $45,219,000. Vanguard Group Inc. lifted its stake in shares of Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Affirm in the third quarter worth $30,808,000. Baillie Gifford & Co. increased its position in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after buying an additional 749,368 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Affirm during the first quarter valued at about $20,150,000. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

(Get Free Report)

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.

Recommended Stories