Affirm (NASDAQ:AFRM) Reaches New 12-Month High Following Earnings Beat

Affirm Holdings, Inc. (NASDAQ:AFRM) shares hit a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $76.88 and last traded at $75.02, with a volume of 11350427 shares changing hands. The stock had previously closed at $61.75.

The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AFRM shares. JPMorgan Chase & Co. increased their target price on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. William Blair assumed coverage on Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday. Finally, Morgan Stanley increased their target price on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 100,000 shares of Affirm stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the completion of the sale, the president now owns 159,449 shares in the company, valued at $9,885,838. This trade represents a 38.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction that occurred 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. Insiders sold 1,339,564 shares of company stock worth $87,252,461 over the last 90 days. 12.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently modified their holdings of the business. ORG Wealth Partners LLC acquired a new position in Affirm during the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. grew its stake in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm in the 4th quarter valued at approximately $33,000. Advisors Asset Management Inc. boosted its stake in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

The firm’s 50-day simple moving average is $62.98 and its two-hundred day simple moving average is $48.86. The company has a market cap of $23.30 billion, a PE ratio of -52.46 and a beta of 3.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

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.