Affirm (NASDAQ:AFRM) Trading 8.5% Higher – Time to Buy?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price traded up 8.5% during trading on Wednesday . The company traded as high as $76.95 and last traded at $77.9450. Approximately 547,652 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 5,776,362 shares. The stock had previously closed at $71.83.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Needham & Company LLC increased their price target on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Citizens Jmp reduced their price objective on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Mizuho increased their target price on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Robert W. Baird set a $70.00 target price on shares of Affirm in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $86.20.

Affirm Stock Performance

The firm has a market capitalization of $26.35 billion, a price-to-earnings ratio of 71.73, a PEG ratio of 4.16 and a beta of 3.70. The firm’s 50 day simple moving average is $66.49 and its 200 day simple moving average is $62.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The company had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. During the same quarter last year, the business earned $0.01 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AFRM. Norges Bank purchased a new stake in Affirm in the 4th quarter valued at about $281,961,000. Invesco Ltd. boosted its stake in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after buying an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Affirm by 11,042.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after buying an additional 2,141,881 shares during the period. Atreides Management LP increased its position in shares of Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after acquiring an additional 1,670,429 shares during the last quarter. Finally, State Street Corp increased its position in shares of Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after acquiring an additional 1,187,665 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.