Affirm Holdings Inc (NASDAQ: AFRM) stock jumped 1.02% on Friday to $24.79 against a previous-day closing price of $24.54. With 11.15 million shares changed hands, the volume of the stock remained lighter than its average volume of 15.78 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $25.22 whereas the lowest price it dropped to was $24.40. The 52-week range on AFRM shows that it touched its highest point at $27.16 and its lowest point at $8.62 during that stretch. It currently has a 1-year price target of $19.72. Beta for the stock currently stands at 3.11.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AFRM was up-trending over the past week, with a rise of 10.52%, but this was up by 35.54% over a month. Three-month performance surged to 69.22% while six-month performance rose 80.16%. The stock gained 63.96% in the past year, while it has gained 156.36% so far this year. A look at the trailing 12-month EPS for AFRM yields -3.04 with Next year EPS estimates of -2.05. For the next quarter, that number is -0.73. This implies an EPS growth rate of 21.82% for this year and 21.67% for next year.
Float and Shares Shorts:
At present, 237.23 million AFRM shares are outstanding with a float of 224.39 million shares on hand for trading. On Oct 30, 2023, short shares totaled 44.51 million, which was 14.75% higher than short shares on Sep 28, 2023. In addition to Mr. Max Roth Levchin as the firm’s Founder, CEO & Director, Mr. Libor Michalek serves as its President & Director.
Institutional Ownership:
Through their ownership of 84.88% of AFRM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 48.69% of AFRM, in contrast to 38.05% held by mutual funds. Shares owned by individuals account for 13.27%. As the largest shareholder in AFRM with 12.61% of the stake, Morgan Stanley Investment Managem holds 30,445,889 shares worth 30,445,889. A second-largest stockholder of AFRM, Capital Research & Management Co, holds 21,774,741 shares, controlling over 9.02% of the firm’s shares. Baillie Gifford & Co. is the third largest shareholder in AFRM, holding 19,025,293 shares or 7.88% stake. With a 8.72% stake in AFRM, the American Funds Growth Fund of Ame is the largest stakeholder. A total of 21,059,444 shares are owned by the mutual fund manager. The American Funds Small Cap World Fu, which owns about 2.98% of AFRM stock, is the second-largest Mutual Fund holder. It holds 7,197,586 shares valued at 126.75 million. American Funds AMCAP Fund holds 2.98% of the stake in AFRM, owning 7,195,308 shares worth 126.71 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AFRM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AFRM analysts setting a high price target of $33.00 and a low target of $6.00, the average target price over the next 12 months is $19.72. Based on these targets, AFRM could surge 33.12% to reach the target high and fall by -75.8% to reach the target low. Reaching the average price target will result in a decline of -20.45% from current levels.
Summary of Insider Activity:
Insiders traded AFRM stock several times over the past three months with 8 Buys and 8 Sells. In these transactions, 70,382 shares were bought while 26,886 shares were sold. The number of buy transactions has increased to 53 while that of sell transactions has risen to 55 over the past year. The total number of shares bought during that period was 388,185 while 385,794 shares were sold.
