Key Points
- Affirm’s chief accounting officer sold 25,000 shares for approximately $1.81 million at an average price of $72.41, reducing their ownership by 10.39% to 215,691 shares.
- Affirm reported quarterly EPS of $4.62, well above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion, slightly below expectations.
- Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $99.33; institutional investors own about 69.29% of the company.
Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) CAO Siphelele Jiyane sold 25,000 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $72.41, for a total transaction of $1,810,250.00. Following the sale, the chief accounting officer owned 215,691 shares in the company, valued at $15,618,185.31. This trade represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Affirm Trading Down 5.5%
Shares of NASDAQ:AFRM opened at $68.15 on Thursday. The company has a 50 day moving average of $76.50 and a 200-day moving average of $65.75. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The firm has a market cap of $23.00 billion, a P/E ratio of 12.35, a P/E/G ratio of 2.95 and a beta of 3.61. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $92.56.
Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, topping the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.20 earnings per share. The firm's quarterly revenue was up 33.1% compared to the same quarter last year. As a group, analysts anticipate that Affirm Holdings, Inc. will post 1.87 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Affirm
A number of institutional investors and hedge funds have recently modified their holdings of AFRM. California State Teachers Retirement System grew its holdings in shares of Affirm by 7,715.3% in the 2nd quarter. California State Teachers Retirement System now owns 29,932,275 shares of the company's stock worth $2,440,977,000 after acquiring an additional 29,549,277 shares during the last quarter. Capital Research Global Investors raised its position in shares of Affirm by 0.5% during the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company's stock worth $1,722,797,000 after purchasing an additional 104,239 shares during the period. Capital World Investors lifted its holdings in shares of Affirm by 2.4% during the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company's stock valued at $1,615,953,000 after purchasing an additional 507,224 shares during the last quarter. Durable Capital Partners LP lifted its holdings in shares of Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company's stock valued at $510,899,000 after purchasing an additional 808,455 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company's stock valued at $412,315,000 after purchasing an additional 1,187,665 shares during the period. Institutional investors and hedge funds own 69.29% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on Affirm from $103.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Truist Financial raised their target price on Affirm from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. The Goldman Sachs Group lifted their target price on Affirm from $106.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Royal Bank Of Canada boosted their price target on shares of Affirm from $80.00 to $96.00 and gave the stock a "sector perform" rating in a research report on Friday, August 28th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Affirm in a report on Wednesday. Twenty-four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Affirm has a consensus rating of "Moderate Buy" and an average price target of $99.33.
View Our Latest Report on AFRM
About Affirm
(
Get Free Report)
Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.
Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.
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