Affirm (NASDAQ:AFRM) Trading Up 12.7% on Analyst Upgrade

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) rose 12.7% during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $45.00 to $58.00. The Goldman Sachs Group currently has a buy rating on the stock. Affirm traded as high as $51.91 and last traded at $52.33. Approximately 8,991,234 shares traded hands during mid-day trading, an increase of 6% from the average daily volume of 8,447,348 shares. The stock had previously closed at $46.41.

Other equities analysts have also issued reports about the stock. Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a research report on Monday, March 24th. Bank of America upped their price target on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. William Blair assumed coverage on shares of Affirm in a report on Wednesday, January 15th. They set an "outperform" rating for the company. UBS Group decreased their price objective on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Wells Fargo & Company reduced their target price on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.05.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the completion of the transaction, the director now directly owns 38,997 shares of the company's stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the completion of the sale, the director now directly owns 61,520 shares of the company's stock, valued at approximately $3,935,434.40. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,765 shares of company stock worth $2,694,694 in the last quarter. 12.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

A number of large investors have recently made changes to their positions in AFRM. Durable Capital Partners LP grew its position in Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after acquiring an additional 2,888,827 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Affirm by 140.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock valued at $205,350,000 after buying an additional 2,657,074 shares in the last quarter. Norges Bank acquired a new position in shares of Affirm in the 4th quarter valued at $139,949,000. Capital International Investors acquired a new stake in shares of Affirm during the 4th quarter worth about $100,030,000. Finally, Vanguard Group Inc. increased its position in shares of Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock worth $1,051,707,000 after purchasing an additional 1,457,434 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Trading Up 1.6%

The business's fifty day simple moving average is $46.66 and its 200 day simple moving average is $57.01. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a market cap of $16.72 billion, a P/E ratio of -80.88 and a beta of 3.66.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The company had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same quarter last year, the firm earned ($0.43) EPS. The company's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts expect that Affirm Holdings, Inc. will post -0.18 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.