Affirm Holdings, Inc. (NASDAQ:AFRM) Stock Has Average Target Price of $97.69 According to Brokerages

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) have been given an average recommendation of “Moderate Buy” by the thirty-two brokerages that are currently covering the company, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $97.69.

A number of research analysts have commented on the company. Dbs Bank raised Affirm to a “moderate buy” rating in a research report on Wednesday, September 30th. Susquehanna raised their price target on Affirm from $105.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, August 28th. Bank of America lifted their price target on Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a report on Friday, August 28th. TD Cowen reduced their price target on Affirm from $124.00 to $110.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Finally, Compass Point set a $100.00 price target on Affirm in a research note on Friday, July 17th.

Affirm Trading Down 0.5%

Affirm stock opened at $73.51 on Thursday. The company’s fifty day simple moving average is $73.54 and its 200-day simple moving average is $71.12. 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 $90.44. The stock has a market cap of $24.80 billion, a P/E ratio of 13.32, a P/E/G ratio of 2.96 and a beta of 3.82.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.20 earnings per share. Affirm’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Affirm will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, CAO Siphelele Jiyane sold 26,980 shares of Affirm stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the sale, the chief accounting officer directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael Linford sold 79,219 shares of the company’s stock in a transaction 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 completion of the sale, the chief operating officer owned 120,713 shares of the company’s stock, valued at $10,865,377.13. This represents a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 280,118 shares of company stock valued at $22,223,307 over the last three months. 11.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Jericho Capital Asset Management L.P. lifted its position in shares of Affirm by 7.5% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,601,248 shares of the company’s stock worth $268,041,000 after purchasing an additional 251,000 shares during the last quarter. Atreides Management LP boosted its stake in Affirm by 566.1% during the 4th quarter. Atreides Management LP now owns 1,384,941 shares of the company’s stock valued at $103,081,000 after purchasing an additional 1,177,036 shares during the period. Spyglass Capital Management LLC grew its holdings in Affirm by 15.2% in the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company’s stock valued at $76,168,000 after buying an additional 218,745 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Affirm in the 2nd quarter valued at approximately $75,121,000. Finally, Dimensional Fund Advisors LP grew its holdings in Affirm by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock valued at $72,100,000 after buying an additional 166,252 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.