Affirm (NASDAQ:AFRM) Hits New 52-Week High – What’s Next?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price reached a new 52-week high on Tuesday . The company traded as high as $57.93 and last traded at $57.89, with a volume of 15468768 shares. The stock had previously closed at $57.59.

Analyst Ratings Changes

AFRM has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Barclays boosted their price objective on shares of Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price target on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Mizuho restated an “outperform” rating and set a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $46.03.

Affirm Stock Down 2.9 %

The business’s fifty day simple moving average is $44.13 and its two-hundred day simple moving average is $35.50. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The company has a market cap of $16.55 billion, a PE ratio of -37.47 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the prior year, the firm posted ($0.57) EPS. On average, analysts predict that Affirm Holdings, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 403,738 shares of company stock valued at $21,115,878. Insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AFRM. Vanguard Group Inc. increased its stake in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the period. Capital World Investors grew its stake in shares of Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after acquiring an additional 77,050 shares in the last quarter. Spyglass Capital Management LLC increased its position in shares of Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after acquiring an additional 672,883 shares in the last quarter. Finally, Dragoneer Investment Group LLC purchased a new position in Affirm in the second quarter valued at $45,219,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.