Analysts Set Affirm Holdings, Inc. (NASDAQ:AFRM) Target Price at $89.17

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have been given a consensus recommendation of “Moderate Buy” by the thirty-one ratings firms that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $89.1739.

AFRM has been the topic of a number of recent analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of Affirm in a report on Tuesday, December 16th. Wells Fargo & Company began coverage on shares of Affirm in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $89.00 price target on the stock. Morgan Stanley decreased their target price on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Bank of America upped their price target on Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a report on Monday, December 29th.

Insider Buying and Selling at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O’hare sold 36,401 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Affirm by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock worth $1,784,545,000 after purchasing an additional 223,258 shares during the period. Durable Capital Partners LP increased its holdings in Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after purchasing an additional 808,455 shares in the last quarter. State Street Corp raised its stake in shares of Affirm by 26.7% in the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after acquiring an additional 1,187,665 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Affirm by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after buying an additional 254,359 shares in the last quarter. Finally, Invesco Ltd. increased its position in Affirm by 294.2% in the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Up 4.1%

Affirm stock opened at $74.76 on Tuesday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The firm’s 50-day moving average is $72.62 and its 200-day moving average is $74.41. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00. The company has a market cap of $24.68 billion, a P/E ratio of 111.58, a PEG ratio of 3.38 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The business had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. During the same period in the prior year, the firm earned ($0.31) EPS. The business’s quarterly revenue was up 33.6% on a year-over-year basis. On average, equities analysts expect that Affirm will post -0.18 earnings per share for the current year.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.