BofA Securities slashes price target on Affirm Holdings Inc. [AFRM] – find out why.

Affirm Holdings Inc. [NASDAQ: AFRM] surged by $2.05 during the normal trading session on Friday and reaching a high of $14.30 during the day while it closed the day at $14.30. The company report on January 18, 2023 that Affirm to Announce Second Quarter Fiscal Year 2023 Results on February 8, 2023.

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Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced that it will publish its second quarter fiscal year 2023 shareholder letter, including its financial results, on its investor relations website at on Wednesday, February 8, 2023, after market close. The Company will host a conference call and webcast at 5:00pm ET that same day. Hosting the call will be Max Levchin, Founder and Chief Executive Officer, and Michael Linford, Chief Financial Officer.

A replay will be available on the investor relations website following the call.

Affirm Holdings Inc. stock has also gained 17.21% of its value over the past 7 days. However, AFRM stock has declined by -20.16% in the 3 months of the year. Over the past six months meanwhile, it has lost -51.93% and gained 47.88% year-on date.

The market cap for AFRM stock reached $3.55 billion, with 290.93 million shares outstanding and 217.47 million shares in the current float. Compared to the average trading volume of 15.54M shares, AFRM reached a trading volume of 20313619 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Affirm Holdings Inc. [AFRM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AFRM shares is $19.32 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AFRM stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Affirm Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 13, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on November 29, 2022, representing the official price target for Affirm Holdings Inc. stock. Previously, the target price had yet another drop from $22 to $14, while Deutsche Bank kept a Hold rating on AFRM stock.

The Average True Range (ATR) for Affirm Holdings Inc. is set at 1.12, with the Price to Sales ratio for AFRM stock in the period of the last 12 months amounting to 2.93. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 6.16.

AFRM stock trade performance evaluation

Affirm Holdings Inc. [AFRM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.21. With this latest performance, AFRM shares gained by 50.84% in over the last four-week period, additionally sinking by -51.93% over the last 6 months – not to mention a drop of -77.76% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AFRM stock in for the last two-week period is set at 65.16, with the RSI for the last a single of trading hit 72.35, and the three-weeks RSI is set at 58.49 for Affirm Holdings Inc. [AFRM]. The present Moving Average for the last 50 days of trading for this stock 12.04, while it was recorded at 13.17 for the last single week of trading, and 21.81 for the last 200 days.

Affirm Holdings Inc. [AFRM]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Affirm Holdings Inc. [AFRM] shares currently have an operating margin of -43.88 and a Gross Margin at +88.30. Affirm Holdings Inc.’s Net Margin is presently recorded at -52.43.

Return on Equity for this stock declined to -27.21, with Return on Assets sitting at -11.95.

Affirm Holdings Inc. [AFRM]: Insider Ownership positions

There are presently around $2,517 million, or 83.60% of AFRM stock, in the hands of institutional investors. The top three institutional holders of AFRM stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 27,433,886, which is approximately 10.658% of the company’s market cap and around 0.30% of the total institutional ownership; MORGAN STANLEY, holding 21,324,343 shares of the stock with an approximate value of $304.94 million in AFRM stocks shares; and BAILLIE GIFFORD & CO, currently with $293.29 million in AFRM stock with ownership of nearly 9.758% of the company’s market capitalization.

179 institutional holders increased their position in Affirm Holdings Inc. [NASDAQ:AFRM] by around 26,003,452 shares. Additionally, 133 investors decreased positions by around 14,140,191 shares, while 92 investors held positions by with 135,903,816 shares. The mentioned changes placed institutional holdings at 176,047,459 shares, according to the latest SEC report filing. AFRM stock had 67 new institutional investments in for a total of 5,345,583 shares, while 51 institutional investors sold positions of 8,577,840 shares during the same period.


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