AdvisorNet Financial Inc raised its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 100.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,000 shares of the company's stock after acquiring an additional 1,000 shares during the period. AdvisorNet Financial Inc's holdings in Affirm were worth $36,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in AFRM. UMB Bank N A MO boosted its stake in shares of Affirm by 484.0% in the first quarter. UMB Bank N A MO now owns 584 shares of the company's stock valued at $27,000 after purchasing an additional 484 shares during the period. Covestor Ltd purchased a new position in shares of Affirm in the first quarter valued at approximately $30,000. HM Payson & Co. boosted its stake in shares of Affirm by 540.0% in the fourth quarter. HM Payson & Co. now owns 448 shares of the company's stock valued at $45,000 after purchasing an additional 378 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Affirm in the fourth quarter valued at approximately $46,000. Finally, TCI Wealth Advisors Inc. boosted its stake in shares of Affirm by 54.9% in the first quarter. TCI Wealth Advisors Inc. now owns 982 shares of the company's stock valued at $46,000 after purchasing an additional 348 shares during the period. 72.76% of the stock is currently owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Mizuho lowered their price objective on shares of Affirm from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, September 7th. Credit Suisse Group lowered their price objective on shares of Affirm to $27.00 in a research note on Friday, July 22nd. Morgan Stanley decreased their price target on shares of Affirm from $80.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, September 7th. Royal Bank of Canada decreased their price target on shares of Affirm from $48.00 to $40.00 and set an "outperform" rating for the company in a research note on Friday, August 26th. Finally, Barclays decreased their price target on shares of Affirm from $35.00 to $29.00 and set an "overweight" rating for the company in a research note on Friday, August 26th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $37.83.
Affirm Stock Down 3.6 %
AFRM stock opened at $19.28 on Friday. The company has a current ratio of 11.87, a quick ratio of 11.87 and a debt-to-equity ratio of 1.56. Affirm Holdings, Inc. has a twelve month low of $13.64 and a twelve month high of $176.65. The company's 50 day moving average is $27.72 and its two-hundred day moving average is $28.46. The stock has a market cap of $5.57 billion, a P/E ratio of -7.59 and a beta of 3.58.
Affirm (NASDAQ:AFRM – Get Rating) last announced its earnings results on Thursday, August 25th. The company reported ($0.65) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.20). The business had revenue of $364.10 million during the quarter, compared to analyst estimates of $354.86 million. Affirm had a negative net margin of 52.43% and a negative return on equity of 20.25%. The business's revenue was up 39.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.48) earnings per share. Research analysts expect that Affirm Holdings, Inc. will post -2.8 earnings per share for the current fiscal year.
Affirm Profile
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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 from one to sixty months.
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