Affirm (NASDAQ:AFRM) Issues Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Affirm (NASDAQ:AFRM) announced its quarterly earnings data on Thursday. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44, Zacks reports. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%.

Affirm Stock Up 21.8 %

Shares of NASDAQ:AFRM opened at $75.22 on Friday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market cap of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. Affirm has a 12 month low of $22.25 and a 12 month high of $76.88. The company’s 50-day moving average price is $63.09 and its two-hundred day moving average price is $49.18.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AFRM shares. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. William Blair initiated coverage on shares of Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. Royal Bank of Canada lifted their target price on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday. The Goldman Sachs Group increased their price target on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average target price of $66.00.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 400,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. The trade was a 82.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,339,564 shares of company stock valued at $87,252,461. Insiders own 12.41% of the company’s stock.

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.