Affirm Holdings, Inc. (NASDAQ:AFRM) Stock Has Average Price Target of $96.81

Affirm Holdings, Inc. (NASDAQ:AFRM) has been assigned an average rating of “Moderate Buy” from the thirty-three analysts that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $95.96.

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald lowered their target price on shares of Affirm from $97.00 to $84.00 and set an “overweight” rating for the company in a report on Monday. Loop Capital began coverage on shares of Affirm in a research note on Wednesday, September 9th. They set a “buy” rating and a $105.00 price target for the company. Zacks Research upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. Morgan Stanley reduced their price objective on shares of Affirm from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Monday, October 26th. Finally, Citigroup reissued a “market outperform” rating on shares of Affirm in a research report on Friday, August 28th.

Affirm Price Performance

NASDAQ:AFRM opened at $67.84 on Monday. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 2.67 and a beta of 3.74. Affirm has a 1 year low of $42.10 and a 1 year high of $90.44. The business has a 50 day simple moving average of $72.14 and a 200-day simple moving average of $66.48. The company has a debt-to-equity ratio of 1.81, a current ratio of 12.50 and a quick ratio of 11.80.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 5th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.09. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.21 billion. Affirm had a return on equity of 43.38% and a net margin of 43.86%. The company’s revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Equities analysts forecast that Affirm will post 1.89 EPS for the current year.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 41,664 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the sale, the insider directly owned 152,439 shares in the company, valued at approximately $11,513,717.67. This represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 79,219 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 120,713 shares of the company’s stock, valued at $10,865,377.13. This represents a 39.62% 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. Insiders have sold 280,118 shares of company stock worth $22,223,307 over the last three months. 10.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Large investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. lifted its holdings in Affirm by 386.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 51,844 shares of the company’s stock valued at $4,228,000 after buying an additional 41,187 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in Affirm in the 1st quarter valued at about $935,000. Dimensional Fund Advisors LP boosted its position in Affirm by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock valued at $72,100,000 after buying an additional 166,252 shares during the period. Nykredit A S bought a new position in Affirm in the 2nd quarter worth about $7,170,000. Finally, Royal Bank of Canada grew its stake in Affirm by 8.4% in the 1st quarter. Royal Bank of Canada now owns 318,783 shares of the company’s stock worth $14,607,000 after acquiring an additional 24,583 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc. operates a financial technology platform that enables consumers to pay for purchases over time. Its services are offered at participating merchants’ checkout pages and through the Affirm app, where eligible customers can review payment options and manage purchases. The company’s products include installment loans with terms that vary by purchase and eligibility, as well as the Affirm Card, which lets users access Affirm payment options for eligible transactions. Affirm also provides merchants with payment and commerce tools designed to support checkout and customer purchases.