Affirm (NASDAQ:AFRM) Price Target Cut to $56.00 by Analysts at The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its target price reduced by The Goldman Sachs Group from $90.00 to $56.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also commented on AFRM. William Blair initiated coverage on shares of Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating on the stock. UBS Group boosted their target price on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays boosted their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their target price on Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Affirm currently has an average rating of “Moderate Buy” and an average price target of $68.24.

Affirm Price Performance

Shares of Affirm stock opened at $43.70 on Tuesday. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm has a twelve month low of $22.25 and a twelve month high of $82.53. The business has a 50-day moving average price of $61.22 and a 200 day moving average price of $56.00. The firm has a market cap of $13.90 billion, a PE ratio of -67.23 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Sell-side analysts predict that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the transaction, the director now owns 77,608 shares in the company, valued at approximately $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the transaction, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,801 shares of company stock worth $3,806,093. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Large investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. acquired a new position in Affirm in the third quarter valued at $1,419,000. Quest Partners LLC acquired a new stake in shares of Affirm during the third quarter worth about $391,000. Nordea Investment Management AB acquired a new stake in shares of Affirm during the fourth quarter worth about $6,380,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after buying an additional 672,883 shares during the period. Finally, Atreides Management LP acquired a new stake in shares of Affirm during the third quarter worth about $20,404,000. Institutional investors and hedge funds 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.