Affirm (NASDAQ:AFRM) Hits New 1-Year High – Time to Buy?

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $79.82 and last traded at $78.74, with a volume of 497882 shares. The stock had previously closed at $79.28.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AFRM shares. The Goldman Sachs Group boosted their price objective on shares of Affirm from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Barclays boosted their price objective on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. UBS Group increased their target price on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Tuesday, January 21st. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.24.

Affirm Trading Up 1.8 %

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’s 50-day simple moving average is $63.89 and its 200 day simple moving average is $51.11. The stock has a market capitalization of $25.34 billion, a P/E ratio of -124.14 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.29%. Equities research analysts anticipate that Affirm Holdings, Inc. will post -0.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert O’hare sold 11,218 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $70.00, for a total transaction of $785,260.00. The disclosure for this sale can be found here. Insiders have sold 1,038,626 shares of company stock worth $70,690,871 in the last three months. 12.41% of the stock is currently owned by insiders.

Institutional Trading of Affirm

Several large investors have recently added to or reduced their stakes in AFRM. Hanseatic Management Services Inc. grew its holdings in shares of Affirm by 12.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock valued at $109,000 after buying an additional 194 shares in the last quarter. KBC Group NV increased its holdings in shares of Affirm by 3.6% in the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after purchasing an additional 222 shares during the period. CIBC Asset Management Inc lifted its position in shares of Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after purchasing an additional 233 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Affirm by 29.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock worth $87,000 after purchasing an additional 325 shares during the period. Finally, Prestige Wealth Management Group LLC grew its position in Affirm by 78.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock valued at $46,000 after purchasing an additional 332 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Company Profile

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.