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

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have received a consensus recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $67.32.

A number of equities analysts have recently weighed in on AFRM shares. JMP Securities reduced their price target on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft started coverage on Affirm in a report on Thursday, July 17th. They set a “buy” rating and a $78.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. TD Cowen started coverage on shares of Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price target for the company. Finally, Wall Street Zen downgraded shares of Affirm from a “buy” rating to a “hold” rating in a report on Friday, June 6th.

Affirm Price Performance

Affirm stock opened at $66.75 on Tuesday. The business has a fifty day moving average of $60.17 and a two-hundred day moving average of $56.57. Affirm has a one year low of $22.25 and a one year high of $82.53. The company has a market cap of $21.53 billion, a P/E ratio of -317.86, a price-to-earnings-growth ratio of 2.63 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. During the same quarter in the previous year, the company posted ($0.43) earnings per share. The company’s revenue was up 35.9% compared to the same quarter last year. As a group, analysts predict that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 16,089 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the transaction, the director directly owned 29,343 shares of the company’s stock, valued at $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares of the company’s stock, valued at $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,247 shares of company stock valued at $6,422,823 in the last ninety days. 11.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Hedge funds have recently modified their holdings of the stock. Capital Research Global Investors boosted its holdings in Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock valued at $1,477,747,000 after purchasing an additional 470,409 shares in the last quarter. Vanguard Group Inc. raised its holdings in Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after acquiring an additional 1,457,434 shares during the period. Capital World Investors boosted its holdings in Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after purchasing an additional 72,582 shares during the last quarter. Durable Capital Partners LP boosted its position in Affirm by 12.3% in the 1st quarter. Durable Capital Partners LP now owns 6,580,882 shares of the company’s stock valued at $297,390,000 after buying an additional 722,599 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its position in shares of Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock valued at $316,561,000 after buying an additional 538,892 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

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.