Affirm (NASDAQ:AFRM) Trading Up 4.9% – Time to Buy?

Affirm Holdings, Inc. (NASDAQ:AFRM) shot up 4.9% on Thursday . The stock traded as high as $67.35 and last traded at $66.42. 1,893,029 shares were traded during trading, a decline of 79% from the average session volume of 8,995,360 shares. The stock had previously closed at $63.34.

Wall Street Analyst Weigh In

AFRM has been the subject of a number of research analyst reports. Bank of America lifted their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and boosted 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 increased their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $82.00 in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Affirm has an average rating of “Hold” and a consensus price target of $59.80.

Affirm Stock Performance

The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a market cap of $19.76 billion, a price-to-earnings ratio of -44.32 and a beta of 3.66. The stock has a 50 day moving average price of $56.66 and a two-hundred day moving average price of $41.50.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the prior year, the firm posted ($0.57) earnings per share. Analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Libor Michalek sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the president now directly owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock valued at $84,875,518 in the last 90 days. 12.41% of the stock is owned by insiders.

Institutional Trading of Affirm

Several hedge funds have recently bought and sold shares of the stock. Raymond James & Associates lifted its position in Affirm by 40.1% in the 2nd quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock valued at $2,102,000 after acquiring an additional 19,920 shares in the last quarter. Bank of New York Mellon Corp raised its position in Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after buying an additional 176,675 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Affirm by 1.1% during the second quarter. Atomi Financial Group Inc. now owns 71,419 shares of the company’s stock worth $2,158,000 after purchasing an additional 753 shares during the last quarter. Finally, Ridgewood Investments LLC bought a new position in Affirm in the second quarter valued at $27,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.