Affirm (NASDAQ:AFRM) Reaches New 52-Week High Following Analyst Upgrade

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price reached a new 52-week high on Monday after JPMorgan Chase & Co. raised their price target on the stock from $56.00 to $74.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Affirm traded as high as $72.40 and last traded at $72.40, with a volume of 175612 shares traded. The stock had previously closed at $70.01.

AFRM has been the topic of a number of other reports. Bank of America raised their target price on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company raised their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. The Goldman Sachs Group raised their price target on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Susquehanna boosted their price target on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Affirm currently has a consensus rating of “Hold” and an average price target of $53.73.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 868,253 shares of company stock valued at $52,186,668 in the last three months. 12.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Affirm by 208.6% during the 3rd quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after acquiring an additional 14,720 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Affirm during the 3rd quarter worth $244,000. Y Intercept Hong Kong Ltd purchased a new position in Affirm during the third quarter worth about $1,618,000. Main Management ETF Advisors LLC purchased a new position in shares of Affirm during the 3rd quarter worth approximately $2,629,000. Finally, XTX Topco Ltd raised its holdings in shares of Affirm by 25.5% in the 3rd quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock valued at $2,206,000 after buying an additional 10,970 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Price Performance

The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of -50.99 and a beta of 3.47. The company’s 50-day moving average price is $49.29 and its 200-day moving average price is $37.98.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same period last year, the firm earned ($0.57) earnings per share. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current 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.