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

Affirm Holdings, Inc. (NASDAQ:AFRM) has earned an average rating of “Moderate Buy” from the thirty brokerages that are presently covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $99.20.

Several brokerages have recently commented on AFRM. Piper Sandler boosted their target price on shares of Affirm from $103.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC increased their target price on shares of Affirm from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday. BTIG Research reissued a “neutral” rating on shares of Affirm in a report on Tuesday, May 26th. Bank of America boosted their price target on shares of Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Research cut shares of Affirm from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th.

Insider Buying and Selling

In related news, COO Michael Linford sold 79,219 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. This represents a 39.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% 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. California State Teachers Retirement System increased its stake in shares of Affirm by 7,715.3% in the second quarter. California State Teachers Retirement System now owns 29,932,275 shares of the company’s stock valued at $2,440,977,000 after buying an additional 29,549,277 shares in the last quarter. Vanguard Group Inc. lifted its position in Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after buying an additional 428,138 shares in the last quarter. Capital Research Global Investors grew its holdings in Affirm by 0.5% during the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock worth $1,722,797,000 after acquiring an additional 104,239 shares during the last quarter. Capital World Investors grew its holdings in Affirm by 2.4% during the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock worth $1,615,953,000 after acquiring an additional 507,224 shares during the last quarter. Finally, Durable Capital Partners LP increased its position in Affirm by 12.3% in the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after acquiring an additional 808,455 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Down 6.1%

Shares of AFRM opened at $69.94 on Wednesday. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 2.91 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a 12 month low of $42.10 and a 12 month high of $93.20. The company has a 50-day moving average price of $77.45 and a two-hundred day moving average price of $64.84.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $0.35 by $4.27. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. Equities analysts predict that Affirm will post 1.8 EPS for the current fiscal year.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.