Affirm Holdings, Inc. (NASDAQ:AFRM) Receives $85.00 Consensus Price Target from Brokerages

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have received an average recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold recommendation and twenty have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $84.36.

AFRM has been the topic of a number of research analyst reports. Needham & Company LLC reduced their target price on Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. TD Cowen reaffirmed a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Truist Financial cut their price objective on Affirm from $85.00 to $71.00 and set a “buy” rating for the company in a report on Friday, February 20th. UBS Group set a $78.00 price objective on Affirm in a research report on Friday, February 6th. Finally, Stephens dropped their target price on Affirm from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th.

Insider Buying and Selling

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. The trade was a 96.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affirm

A number of large investors have recently added to or reduced their stakes in AFRM. Assetmark Inc. grew its stake in shares of Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares during the last quarter. Greenline Wealth Management LLC bought a new stake in shares of Affirm in the 4th quarter valued at about $26,000. Huntington National Bank lifted its stake in shares of Affirm by 634.0% in the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after acquiring an additional 336 shares during the last quarter. Mather Group LLC. purchased a new stake in Affirm during the 3rd quarter valued at about $29,000. Finally, SouthState Corp boosted its holdings in Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Trading Down 1.5%

Shares of Affirm stock opened at $51.70 on Wednesday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. Affirm has a 1 year low of $30.90 and a 1 year high of $100.00. The firm has a market cap of $17.22 billion, a PE ratio of 63.83, a PEG ratio of 1.89 and a beta of 3.61. The company has a 50 day simple moving average of $63.30 and a two-hundred day simple moving average of $71.21.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Analysts expect that Affirm will post -0.18 earnings per share 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.