Affirm Holdings, Inc. (NASDAQ:AFRM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has been assigned an average rating of “Moderate Buy” from the thirty-one research firms that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and three have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $92.7407.

Several brokerages recently issued reports on AFRM. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Zacks Research upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their price objective on Affirm from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Oppenheimer restated an “outperform” rating and set a $87.00 price objective on shares of Affirm in a research report on Friday, May 8th. Finally, Wells Fargo & Company upped their target price on Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in AFRM. Royal Bank of Canada boosted its holdings in Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Affirm by 90.7% in the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after buying an additional 8,014 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Affirm in the 1st quarter worth approximately $243,000. EverSource Wealth Advisors LLC lifted its position in shares of Affirm by 18.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after buying an additional 427 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Affirm by 44.8% during the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock worth $13,242,000 after buying an additional 59,297 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Price Performance

Shares of Affirm stock opened at $78.47 on Friday. The firm has a fifty day moving average price of $75.09 and a two-hundred day moving average price of $63.41. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The company has a market cap of $26.28 billion, a PE ratio of 71.34, a price-to-earnings-growth ratio of 3.18 and a beta of 3.71.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts expect that Affirm will post 1.23 EPS for the current year.

About Affirm

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.