Affirm (NASDAQ:AFRM) Given New $58.00 Price Target at The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its price target boosted by The Goldman Sachs Group from $45.00 to $58.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently commented on the stock. Susquehanna raised shares of Affirm from a “neutral” rating to a “positive” rating and set a $65.00 price objective on the stock in a report on Friday. Bank of America increased their price target on shares of Affirm from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley lowered their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, February 7th. Finally, Seaport Res Ptn raised shares of Affirm to a “hold” rating in a report on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Affirm presently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Affirm Price Performance

AFRM opened at $53.74 on Monday. The firm has a market cap of $17.09 billion, a P/E ratio of -82.68 and a beta of 3.66. The firm has a 50-day moving average of $46.32 and a 200 day moving average of $56.90. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.43) earnings per share. On average, research analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the director now owns 137,325 shares of the company’s stock, valued at $10,986,000. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the sale, the director now directly owns 45,432 shares of the company’s stock, valued at $2,063,067.12. The trade was a 26.15% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,765 shares of company stock worth $3,094,694. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AFRM. Durable Capital Partners LP lifted its position in Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after buying an additional 2,888,827 shares during the period. Norges Bank purchased a new position in Affirm during the fourth quarter valued at $139,949,000. Capital International Investors purchased a new position in Affirm during the fourth quarter valued at $100,030,000. Vanguard Group Inc. lifted its position in Affirm by 6.7% during the first quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after buying an additional 1,457,434 shares during the period. Finally, Foxhaven Asset Management LP purchased a new position in Affirm during the fourth quarter valued at $80,917,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.