Brokerages Set Affirm Holdings, Inc. (NASDAQ:AFRM) Target Price at $67.00

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have been given an average recommendation of “Moderate Buy” by the twenty-three analysts that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong 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 $66.63.

Several research firms have recently issued reports on AFRM. TD Cowen initiated coverage on Affirm in a report on Tuesday, April 8th. They set a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company decreased their target price on shares of Affirm from $85.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. cut their price target on shares of Affirm from $74.00 to $69.00 and set an “overweight” rating for the company in a report on Friday. William Blair initiated coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $69.00 target price on shares of Affirm in a research note on Thursday, March 20th.

Affirm Price Performance

NASDAQ:AFRM opened at $46.44 on Thursday. Affirm has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm’s 50-day simple moving average is $46.42 and its 200 day simple moving average is $56.70. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of -71.45 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million for the quarter, compared to analysts’ expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the firm earned ($0.43) earnings per share. As a group, sell-side analysts predict that Affirm will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the sale, the director now owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. This represents a 26.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares in the company, valued at approximately $10,986,000. This represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,765 shares of company stock valued at $3,094,694 in the last three months. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds have recently bought and sold shares of the company. Hanseatic Management Services Inc. grew its holdings in Affirm by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after acquiring an additional 194 shares during the period. KLP Kapitalforvaltning AS grew its stake in Affirm by 0.4% during the first quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock worth $2,219,000 after purchasing an additional 200 shares during the period. Allworth Financial LP lifted its stake in Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the period. HB Wealth Management LLC boosted its holdings in shares of Affirm by 2.2% during the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company’s stock worth $518,000 after buying an additional 252 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock worth $622,000 after buying an additional 280 shares during the period. Institutional investors own 69.29% of the company’s stock.

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.