Affirm Holdings, Inc. (NASDAQ:AFRM) Stock Has Average Target Price of $98.78

Affirm Holdings, Inc. (NASDAQ:AFRM) has been given an average recommendation of “Moderate Buy” by the thirty-two ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $98.78.

Several equities analysts have issued reports on AFRM shares. BMO Capital Markets reiterated an “outperform” rating on shares of Affirm in a research report on Wednesday, September 9th. Wells Fargo & Company increased their target price on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Royal Bank Of Canada raised their target price on Affirm from $80.00 to $96.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. Citigroup reaffirmed a “market outperform” rating on shares of Affirm in a report on Friday, August 28th. Finally, The Goldman Sachs Group upped their price target on shares of Affirm from $106.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 31st.

Affirm Stock Performance

NASDAQ AFRM opened at $71.52 on Friday. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 2.93 and a beta of 3.61. The company has a 50 day moving average of $73.72 and a 200-day moving average of $67.46. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm has a 1-year low of $42.10 and a 1-year high of $90.44.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. Affirm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 earnings per share. On average, equities analysts forecast that Affirm will post 1.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider directly owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. The trade was a 21.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 214,527 shares of company stock worth $16,974,716. 11.01% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its position in Affirm by 0.5% in the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after buying an additional 104,239 shares during the last quarter. Capital World Investors raised its position in shares of Affirm by 2.4% during the fourth 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. Geode Capital Management LLC raised its position in shares of Affirm by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock worth $408,433,000 after acquiring an additional 329,312 shares during the last quarter. Norges Bank acquired a new position in shares of Affirm during the fourth quarter valued at $281,961,000. Finally, Jericho Capital Asset Management L.P. lifted its stake in shares of Affirm by 7.5% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,601,248 shares of the company’s stock valued at $268,041,000 after acquiring an additional 251,000 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.