Affirm (NASDAQ:AFRM) Stock Price Up 6.3% – Still a Buy?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price rose 6.3% on Wednesday . The stock traded as high as $45.50 and last traded at $46.44. Approximately 951,305 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 8,000,473 shares. The stock had previously closed at $43.70.

Analysts Set New Price Targets

AFRM has been the topic of several research analyst reports. Mizuho lifted their price objective on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JMP Securities boosted their target price on Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Barclays boosted their target price on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a report on Monday, December 16th. Finally, Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.41.

Affirm Trading Up 7.5 %

The company has a market cap of $14.94 billion, a PE ratio of -72.26 and a beta of 3.63. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The business has a 50-day simple moving average of $61.22 and a 200-day simple moving average of $56.00.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. On average, analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Insider Transactions at Affirm

In other news, CFO Robert O’hare sold 6,541 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the sale, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. This represents a 68.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the sale, the director now directly owns 61,520 shares in the company, valued at $3,935,434.40. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,801 shares of company stock valued at $3,806,093. 12.41% of the stock is currently owned by company insiders.

Institutional Trading of Affirm

A number of large investors have recently modified their holdings of AFRM. Oppenheimer & Co. Inc. acquired a new position in shares of Affirm during the third quarter worth $1,419,000. Quest Partners LLC acquired a new position in shares of Affirm during the third quarter worth $391,000. Nordea Investment Management AB acquired a new position in shares of Affirm during the fourth quarter worth $6,380,000. Charles Schwab Investment Management Inc. grew its stake in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Finally, Atreides Management LP acquired a new position in shares of Affirm during the third quarter worth $20,404,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.