Affirm Holdings, Inc. (NASDAQ:AFRM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned an average rating of “Moderate Buy” from the twenty-five research firms that are covering the company, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $65.05.

Several brokerages have commented on AFRM. Stephens initiated coverage on Affirm in a research note on Thursday, June 12th. They set an “equal weight” rating and a $69.00 target price on the stock. Evercore ISI initiated coverage on Affirm in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price target on the stock. Barclays restated an “overweight” rating and issued a $67.00 price target (up from $53.00) on shares of Affirm in a research note on Monday, June 9th. Truist Financial initiated coverage on Affirm in a research note on Monday, June 2nd. They issued a “buy” rating and a $58.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th.

Affirm Stock Performance

Shares of AFRM opened at $66.90 on Friday. The business’s fifty day simple moving average is $53.96 and its two-hundred day simple moving average is $56.47. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a market cap of $21.58 billion, a price-to-earnings ratio of -318.57, a P/E/G ratio of 55.38 and a beta of 3.58.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. During the same period last year, the business posted ($0.43) EPS. The company’s revenue was up 35.9% compared to the same quarter last year. Research analysts anticipate that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the sale, the director now directly owns 36,497 shares of the company’s stock, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of Affirm 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 directly owns 45,432 shares in the company, valued at $2,063,067.12. This trade represents a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,677 shares of company stock valued at $1,703,245. 11.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

Several large investors have recently made changes to their positions in AFRM. Allworth Financial LP increased its holdings in shares of Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after purchasing an additional 219 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in Affirm in the fourth quarter worth about $28,000. Coppell Advisory Solutions LLC purchased a new position in Affirm in the fourth quarter worth about $40,000. Strategic Investment Solutions Inc. IL purchased a new position in Affirm in the fourth quarter worth about $43,000. Finally, Creative Financial Designs Inc. ADV grew its position in Affirm by 640.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company’s stock worth $45,000 after acquiring an additional 640 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

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.