Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report)’s share price rose 8.5% during trading on Wednesday . The company traded as high as $76.95 and last traded at $77.9450. 547,652 shares were traded during mid-day trading, a decline of 91% from the average session volume of 5,776,362 shares. The stock had previously closed at $71.83.
Analysts Set New Price Targets
Several research firms have recently weighed in on AFRM. Needham & Company LLC boosted their price target on Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Robert W. Baird set a $70.00 target price on Affirm in a research report on Friday, May 8th. Citigroup restated a “buy” rating on shares of Affirm in a research note on Wednesday, April 15th. Bank of America lifted their price target on shares of Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.
Get Our Latest Analysis on AFRM
Affirm Trading Up 9.5%
Affirm (NASDAQ:AFRM – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 earnings per share. As a group, equities analysts forecast that Affirm Holdings, Inc. will post 1.25 earnings per share for the current year.
Insider Buying and Selling at Affirm
In other news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares in the company, valued at $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Affirm
Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada boosted its stake in shares of Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares in the last quarter. Empowered Funds LLC raised its stake in Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after buying an additional 8,014 shares in the last quarter. Focus Partners Wealth purchased a new stake in Affirm during the first quarter worth $243,000. EverSource Wealth Advisors LLC lifted its holdings in Affirm by 18.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after buying an additional 427 shares during the period. Finally, First Trust Advisors LP boosted its position in Affirm by 44.8% during the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after acquiring an additional 59,297 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.
About Affirm
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.
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