Affirm (NASDAQ:AFRM) Shares Gap Up – Time to Buy?

Affirm Holdings, Inc. (NASDAQ:AFRM) shares gapped up prior to trading on Friday . The stock had previously closed at $68.77, but opened at $71.03. Affirm shares last traded at $71.07, with a volume of 1,510,761 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and set a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. The Goldman Sachs Group raised their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Barclays upped their price target on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Susquehanna upped their target price on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $55.33.

Affirm Price Performance

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 firm’s fifty day moving average price is $54.35 and its 200-day moving average price is $40.30.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same period in the prior year, the company earned ($0.57) earnings per share. Equities analysts expect that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 47.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the completion of the sale, the president now directly owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 970,665 shares of company stock valued at $59,967,781. Company insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

Hedge funds and other institutional investors have recently modified their holdings of the stock. Comerica Bank lifted its position in shares of Affirm by 16.2% in the 1st quarter. Comerica Bank now owns 6,109 shares of the company’s stock worth $228,000 after purchasing an additional 850 shares during the period. Cetera Advisors LLC raised its stake in Affirm by 38.4% during the 1st quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock worth $269,000 after buying an additional 2,005 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Affirm by 15.5% in the second quarter. Sequoia Financial Advisors LLC now owns 10,159 shares of the company’s stock worth $307,000 after acquiring an additional 1,367 shares in the last quarter. ORG Partners LLC increased its holdings in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares in the last quarter. Finally, Raymond James & Associates grew its position in Affirm by 40.1% in the 2nd quarter. Raymond James & Associates now owns 69,594 shares of the company’s stock valued at $2,102,000 after purchasing an additional 19,920 shares during the period. Institutional investors own 69.29% of the company’s stock.

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.