Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report)'s stock price reached a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $76.88 and last traded at $75.02, with a volume of 11350427 shares trading hands. The stock had previously closed at $61.75.
The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%.
AFRM has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 19th. William Blair started coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an "outperform" rating for the company. JPMorgan Chase & Co. boosted their price target on Affirm from $56.00 to $74.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Wells Fargo & Company upped their target price on Affirm from $70.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Jefferies Financial Group upgraded Affirm from a "hold" rating to a "buy" rating and lifted their target price for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $63.67.
Get Our Latest Analysis on Affirm
In related news, COO Michael Linford sold 400,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now owns 85,420 shares in the company, valued at $5,893,125.80. This trade represents a 82.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert O'hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 1,339,564 shares of company stock valued at $87,252,461 over the last 90 days. 12.41% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Amundi raised its holdings in Affirm by 107.5% during the 4th quarter. Amundi now owns 603,437 shares of the company's stock valued at $35,404,000 after buying an additional 312,620 shares during the period. West Family Investments Inc. purchased a new stake in shares of Affirm during the fourth quarter worth about $296,000. Raymond James Financial Inc. acquired a new stake in shares of Affirm in the fourth quarter worth $14,591,000. Arizona State Retirement System lifted its holdings in shares of Affirm by 2.1% in the 4th quarter. Arizona State Retirement System now owns 69,827 shares of the company's stock valued at $4,252,000 after buying an additional 1,453 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Affirm in the 4th quarter valued at $8,831,000. 69.29% of the stock is currently owned by institutional investors.
The stock has a market cap of $23.30 billion, a price-to-earnings ratio of -52.46 and a beta of 3.66. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm's 50-day moving average is $62.98 and its two-hundred day moving average is $48.86.
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.
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