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

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have received an average recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $46.85.

Several research analysts have recently issued reports on AFRM shares. Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and raised their target price for the company from $25.00 to $45.00 in a research note on Monday, October 14th. Wells Fargo & Company upped their target price on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Mizuho raised their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 503,738 shares of company stock worth $27,315,878. Insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after buying an additional 187,790 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Affirm in the 3rd quarter worth approximately $731,000. Entropy Technologies LP bought a new stake in Affirm in the third quarter valued at $464,000. Oppenheimer & Co. Inc. purchased a new stake in Affirm in the third quarter worth about $1,419,000. Finally, Avantax Advisory Services Inc. bought a new stake in Affirm during the 1st quarter valued at approximately $258,000. 69.29% of the stock is currently owned by institutional investors.

Affirm Price Performance

NASDAQ AFRM opened at $63.19 on Thursday. The stock’s 50-day moving average is $45.96 and its two-hundred day moving average is $36.30. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $64.56. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The firm has a market cap of $19.85 billion, a P/E ratio of -44.50 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the business earned ($0.57) EPS. On average, analysts anticipate that Affirm will post -0.53 earnings per share for the current fiscal year.

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.