Affirm (NASDAQ:AFRM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $73.16 and traded as high as $73.71. Affirm shares last traded at $73.32, with a volume of 2,311,753 shares trading hands.

Analyst Ratings Changes

AFRM has been the topic of a number of research reports. Robert W. Baird raised their price target on Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Bank of America upped their price objective on Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Monness Crespi & Hardt initiated coverage on Affirm in a research report on Monday. They set a “buy” rating and a $90.00 price objective for the company. UBS Group lifted their target price on Affirm from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Finally, Piper Sandler boosted their target price on Affirm from $103.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $97.41.

Affirm Trading Down 1.8%

The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80. The business’s 50 day moving average price is $73.08 and its 200-day moving average price is $66.59. The firm has a market capitalization of $24.79 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 3.04 and a beta of 3.82.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating 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 firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.20 earnings per share. The firm’s revenue was up 33.1% compared to the same quarter last year. Equities analysts forecast that Affirm Holdings, Inc. will post 1.89 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Siphelele Jiyane sold 26,980 shares of Affirm stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $72.19, for a total value of $1,947,686.20. Following 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 filing with the Securities & Exchange Commission, which is available through this link. 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 value of $7,130,502.19. Following the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. This represents a 39.62% decrease in their position. 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 in the last three months. 11.01% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Institutional investors have recently made changes to their positions in the stock. Rakuten Investment Management Inc. increased its position in shares of Affirm by 13.8% in the third quarter. Rakuten Investment Management Inc. now owns 18,182 shares of the company’s stock valued at $1,260,000 after buying an additional 2,198 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Affirm by 2.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 528,628 shares of the company’s stock worth $36,597,000 after buying an additional 13,330 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Affirm in the 3rd quarter worth about $104,000. State of Wyoming purchased a new stake in shares of Affirm in the 3rd quarter worth about $326,000. Finally, Partners Wealth Management LLC acquired a new stake in Affirm in the 3rd quarter valued at about $966,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.