Brokerages Set Affirm Holdings, Inc. (NASDAQ:AFRM) Target Price at $55.33

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have earned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $55.33.

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 target price on shares of Affirm in a research report on Friday, October 4th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Mizuho upped their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th.

Insider Buying and Selling

In other news, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the transaction, the chief operating officer now owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This trade represents a 82.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,386,751 shares of company stock worth $88,673,393. 12.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently made changes to their positions in AFRM. Ridgewood Investments LLC acquired a new stake in Affirm in the 2nd quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the third quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the last quarter. ORG Partners LLC increased its position in Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

NASDAQ:AFRM opened at $70.70 on Monday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a 50-day moving average of $54.98 and a 200-day moving average of $40.58. Affirm has a twelve month low of $22.25 and a twelve month high of $72.82. The firm has a market cap of $22.20 billion, a price-to-earnings ratio of -49.79 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the business posted ($0.57) earnings per share. Analysts forecast that Affirm will post -0.53 earnings per share for the current fiscal year.

About Affirm

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.