Affirm Holdings, Inc. (NASDAQ:AFRM) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned a consensus rating of “Moderate Buy” from the thirty-two brokerages that are presently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $98.78.

A number of analysts have recently commented on AFRM shares. Morgan Stanley upped their target price on Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, August 28th. Citizens Jmp reissued a “market outperform” rating and issued a $85.00 price target on shares of Affirm in a report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft upped their price objective on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Loop Capital assumed coverage on shares of Affirm in a research note on Wednesday, September 9th. They set a “buy” rating and a $105.00 price objective on the stock. Finally, Needham & Company LLC set a $85.00 target price on shares of Affirm in a report on Wednesday, September 16th.

Insider Activity at Affirm

In related news, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $90.01, for a total value of $7,130,502.19. Following the completion of the transaction, the chief operating officer owned 120,713 shares in the company, valued at $10,865,377.13. The trade was a 39.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katherine Adkins sold 41,664 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the sale, the insider directly owned 152,439 shares in the company, valued at approximately $11,513,717.67. The trade was a 21.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 214,527 shares of company stock worth $16,974,716. 11.01% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors increased its stake in shares of Affirm by 0.5% during the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock worth $1,722,797,000 after purchasing an additional 104,239 shares in the last quarter. Capital World Investors lifted its stake in Affirm by 2.4% in the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after buying an additional 507,224 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Affirm by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock worth $408,433,000 after buying an additional 329,312 shares during the last quarter. Norges Bank acquired a new stake in Affirm in the 4th quarter worth about $281,961,000. Finally, Jericho Capital Asset Management L.P. increased its stake in Affirm by 7.5% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,601,248 shares of the company’s stock worth $268,041,000 after buying an additional 251,000 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Up 5.1%

Affirm stock opened at $71.57 on Friday. The business’s 50-day simple moving average is $73.81 and its two-hundred day simple moving average is $67.44. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The company has a market cap of $24.15 billion, a PE ratio of 12.97, a PEG ratio of 2.94 and a beta of 3.61. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities analysts anticipate that Affirm will post 1.87 EPS for the current year.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.