Affirm (NASDAQ:AFRM) Shares Gap Up – Time to Buy?
by Renee Jackson · The Cerbat GemShares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $55.82, but opened at $58.40. Affirm shares last traded at $59.32, with a volume of 2,398,205 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Oppenheimer cut their price objective on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. The Goldman Sachs Group cut shares of Affirm from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Bank of America assumed coverage on shares of Affirm in a report on Thursday, March 5th. They issued a “buy” rating and a $82.00 price target on the stock. Royal Bank Of Canada cut their price target on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Finally, Needham & Company LLC cut their price target on shares of Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.
Get Our Latest Stock Analysis on AFRM
Affirm Trading Up 5.8%
The stock’s fifty day moving average price is $49.42 and its 200 day moving average price is $64.17. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. The stock has a market capitalization of $19.68 billion, a P/E ratio of 72.82, a PEG ratio of 3.60 and a beta of 3.63.
Affirm (NASDAQ:AFRM – Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. Research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.
Institutional Trading of Affirm
Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the period. Greenline Wealth Management LLC purchased a new stake in Affirm in the fourth quarter worth about $26,000. Mather Group LLC. purchased a new stake in Affirm in the third quarter worth about $29,000. Triumph Capital Management purchased a new stake in Affirm in the third quarter worth about $31,000. Finally, CoreCap Advisors LLC lifted its stake in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after acquiring an additional 358 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.
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.