Affirm (NASDAQ:AFRM) Shares Gap Up – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $46.77, but opened at $49.46. Affirm shares last traded at $47.69, with a volume of 2,728,044 shares changing hands.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several research reports. Mizuho raised their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Barclays increased their target price on shares of Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Compass Point raised shares of Affirm from a “sell” rating to a “neutral” rating and increased their target price for the company from $20.00 to $61.00 in a report on Tuesday, January 28th. William Blair assumed coverage on shares of Affirm in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Finally, Morgan Stanley increased their target price on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and an average price target of $70.24.

Affirm Stock Performance

The company has a market capitalization of $15.54 billion, a PE ratio of -74.83 and a beta of 3.63. The business’s 50-day moving average is $62.79 and its 200-day moving average is $55.61. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the transaction, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. The trade was a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders sold a total of 478,387 shares of company stock valued at $32,691,830 in the last three months. Company insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Affirm during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. raised its holdings in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm during the fourth quarter valued at approximately $33,000. Coppell Advisory Solutions LLC purchased a new position in shares of Affirm during the fourth quarter valued at approximately $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Affirm during the fourth quarter valued at approximately $43,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Company Profile

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.