Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating)'s share price gapped up prior to trading on Thursday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $11.00 to $18.00. The stock had previously closed at $17.72, but opened at $18.77. Affirm shares last traded at $19.35, with a volume of 1,211,317 shares changing hands.
Several other equities research analysts have also weighed in on the company. Stephens lowered their price objective on Affirm from $18.00 to $15.00 and set an "underweight" rating on the stock in a research note on Wednesday, November 9th. Jefferies Financial Group lowered their price objective on Affirm from $15.00 to $12.00 in a research note on Wednesday, November 9th. Piper Sandler lowered their price objective on Affirm from $22.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, December 15th. Wedbush lowered their price objective on Affirm from $15.00 to $10.00 in a research note on Wednesday, November 9th. Finally, UBS Group began coverage on Affirm in a research report on Tuesday, November 29th. They set a "neutral" rating and a $14.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $24.22.
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Insiders Place Their Bets
In other news, Director Keith Rabois sold 17,287 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $9.18, for a total value of $158,694.66. Following the transaction, the director now owns 51,860 shares of the company's stock, valued at approximately $476,074.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.11% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of Affirm by 2,007.4% in the 3rd quarter. US Bancorp DE now owns 1,433 shares of the company's stock valued at $27,000 after purchasing an additional 1,365 shares during the period. Covestor Ltd acquired a new stake in Affirm during the 1st quarter worth $30,000. American International Group Inc. acquired a new stake in Affirm during the 2nd quarter worth $33,000. Twin Lakes Capital Management LLC acquired a new stake in Affirm during the 3rd quarter worth $34,000. Finally, Private Ocean LLC acquired a new stake in Affirm during the 3rd quarter worth $35,000. Institutional investors and hedge funds own 67.49% of the company's stock.
Affirm Price Performance
The firm has a market cap of $6.13 billion, a price-to-earnings ratio of -9.31 and a beta of 3.27. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 1.68. The company has a 50 day moving average of $12.06 and a 200 day moving average of $19.22.
Affirm (NASDAQ:AFRM – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.04). The business had revenue of $361.62 million for the quarter, compared to analyst estimates of $360.72 million. Affirm had a negative return on equity of 25.51% and a negative net margin of 45.24%. Equities research analysts predict that Affirm Holdings, Inc. will post -3.5 EPS for the current fiscal year.
About Affirm
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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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