Affirm Holdings, Inc. (NASDAQ:AFRM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have earned a consensus rating of “Moderate Buy” from the twenty-nine ratings firms that are presently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $85.00.

A number of research firms have recently commented on AFRM. Needham & Company LLC cut their price target on shares of Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, February 6th. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. TD Cowen reissued a “buy” rating on shares of Affirm in a report on Friday, February 6th. The Goldman Sachs Group cut Affirm from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Robert W. Baird began coverage on Affirm in a report on Thursday, February 19th. They set a “neutral” rating and a $55.00 price target on the stock.

Affirm Trading Up 2.5%

NASDAQ AFRM opened at $47.83 on Wednesday. Affirm has a 12 month low of $30.90 and a 12 month high of $100.00. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The stock’s fifty day moving average price is $64.74 and its 200-day moving average price is $71.70. The stock has a market cap of $15.93 billion, a P/E ratio of 59.05, a P/E/G ratio of 1.71 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business posted $0.23 EPS. Affirm’s revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. 11.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds have recently added to or reduced their stakes in AFRM. Assetmark Inc. grew its holdings in shares of Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the period. Greenline Wealth Management LLC purchased a new position in Affirm in the fourth quarter worth about $26,000. Huntington National Bank grew its stake in shares of Affirm by 634.0% during the 2nd 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 period. Mather Group LLC. purchased a new stake in shares of Affirm during the 3rd quarter valued at about $29,000. Finally, SouthState Corp increased its position in shares of Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.