Affirm Holdings, Inc. (NASDAQ:AFRM) Receives $32.66 Consensus Price Target from Analysts

Affirm Holdings, Inc. (NASDAQ:AFRM) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $32.66.

AFRM has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. JMP Securities assumed coverage on shares of Affirm in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $43.00 price target on shares of Affirm in a report on Friday, May 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Affirm in a report on Monday, June 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Thursday, May 9th.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now owns 60,000 shares in the company, valued at approximately $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AFRM. Vanguard Group Inc. lifted its position in shares of Affirm by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,737,059 shares of the company’s stock worth $398,537,000 after purchasing an additional 213,421 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Affirm during the 4th quarter valued at $1,816,000. Renaissance Capital LLC lifted its position in shares of Affirm by 30.8% during the 4th quarter. Renaissance Capital LLC now owns 143,795 shares of the company’s stock valued at $7,066,000 after acquiring an additional 33,873 shares during the period. Diversified Trust Co acquired a new position in shares of Affirm during the 4th quarter valued at $228,000. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Affirm by 82.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Price Performance

Shares of Affirm stock opened at $30.86 on Friday. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm has a twelve month low of $13.67 and a twelve month high of $52.48. The stock has a market capitalization of $9.54 billion, a price-to-earnings ratio of -13.84 and a beta of 3.45. The company has a 50-day simple moving average of $30.83 and a two-hundred day simple moving average of $35.42.

Affirm (NASDAQ:AFRM) last released its earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. During the same period last year, the firm earned ($0.69) EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts forecast that Affirm will post -1.98 EPS for the current year.

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.