Affirm (NASDAQ:AFRM) Shares Gap Up – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped up before the market opened on Wednesday . The stock had previously closed at $55.82, but opened at $58.40. Affirm shares last traded at $59.32, with a volume of 2,398,205 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AFRM. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Affirm in a research note on Monday, February 9th. The Goldman Sachs Group cut shares of Affirm from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Bank of America started coverage on shares of Affirm in a report on Thursday, March 5th. They set a “buy” rating and a $82.00 target price on the stock. UBS Group set a $78.00 target price on shares of Affirm in a report on Friday, February 6th. Finally, Stephens reduced their target price on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Affirm Price Performance

The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of 74.42, a price-to-earnings-growth ratio of 4.12 and a beta of 3.63. The company’s fifty day moving average is $49.39 and its two-hundred day moving average is $64.11.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business posted $0.23 EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $55.00, for a total value of $110,000.00. Following the transaction, the director owned 38,076 shares in the company, valued at $2,094,180. The trade was a 4.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in the company. E. Ohman J or Asset Management AB lifted its holdings in Affirm by 249.9% in the 1st quarter. E. Ohman J or Asset Management AB now owns 6,760 shares of the company’s stock worth $310,000 after buying an additional 4,828 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Affirm in the 4th quarter worth $49,000. World Investment Advisors lifted its holdings in Affirm by 6.3% in the 4th quarter. World Investment Advisors now owns 20,588 shares of the company’s stock worth $1,532,000 after buying an additional 1,224 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Affirm by 11.9% in the 4th quarter. Corient Private Wealth LLC now owns 19,064 shares of the company’s stock worth $1,419,000 after buying an additional 2,032 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Affirm by 85.4% in the 4th quarter. Hsbc Holdings PLC now owns 88,341 shares of the company’s stock worth $6,593,000 after purchasing an additional 40,685 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.