Affirm (NASDAQ:AFRM) Stock Price Up 10.5% – Time to Buy?

by · The Cerbat Gem

Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report) shares traded up 10.5% on Tuesday . The company traded as high as $70.12 and last traded at $72.5670. 2,837,895 shares were traded during mid-day trading, a decline of 60% from the average session volume of 7,038,563 shares. The stock had previously closed at $65.66.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Rothschild & Co Redburn raised shares of Affirm from a “neutral” rating to a “buy” rating and increased their target price for the company from $74.00 to $101.00 in a report on Monday, October 6th. Evercore ISI restated an “outperform” rating on shares of Affirm in a research report on Tuesday. UBS Group raised their price objective on Affirm from $56.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Morgan Stanley lowered their target price on Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Finally, Jefferies Financial Group increased their target price on Affirm from $82.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and an average price target of $86.57.

View Our Latest Analysis on AFRM

Affirm Stock Up 6.0%

The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. The stock has a market capitalization of $25.21 billion, a PE ratio of 113.99, a PEG ratio of 3.27 and a beta of 3.57. The company has a 50 day moving average price of $70.70 and a 200-day moving average price of $72.10.

Affirm (NASDAQ:AFRM – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The firm had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. During the same quarter in the previous year, the firm posted ($0.31) EPS. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, CEO Max R. Levchin sold 651,713 shares of Affirm stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $89.27, for a total transaction of $58,178,419.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert O’hare sold 8,189 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total value of $573,230.00. Following the transaction, the chief financial officer owned 1,368 shares of the company’s stock, valued at $95,760. The trade was a 85.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affirm

A number of hedge funds have recently added to or reduced their stakes in AFRM. Assetmark Inc. increased its holdings in shares of Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Huntington National Bank raised its holdings in shares of Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after purchasing an additional 336 shares during the last quarter. Mather Group LLC. purchased a new stake in Affirm in the third quarter worth approximately $29,000. SouthState Corp boosted its holdings in Affirm by 190.5% in the second quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares during the last quarter. Finally, Blume Capital Management Inc. raised its stake in Affirm by 468.8% during the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock valued at $31,000 after buying an additional 375 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

About Affirm

(Get Free Report)

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.

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