The Goldman Sachs Group Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its target price hoisted by investment analysts at The Goldman Sachs Group from $45.00 to $58.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 7.53% from the company’s current price.

A number of other research analysts also recently commented on AFRM. TD Cowen assumed coverage on shares of Affirm in a research report on Tuesday, April 8th. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a research report on Friday, May 9th. Evercore ISI started coverage on shares of Affirm in a research report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price objective on the stock. Compass Point raised shares of Affirm from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $61.00 to $64.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley cut their price objective on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.05.

Affirm Trading Up 0.4%

Shares of AFRM opened at $53.94 on Monday. Affirm has a 1-year low of $22.25 and a 1-year high of $82.53. The company has a 50-day moving average of $46.34 and a 200 day moving average of $56.88. The firm has a market capitalization of $17.16 billion, a price-to-earnings ratio of -82.98 and a beta of 3.66. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.43) EPS. On average, research analysts expect that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AFRM. Oder Investment Management LLC raised its holdings in Affirm by 4.8% in the first quarter. Oder Investment Management LLC now owns 7,396 shares of the company’s stock valued at $334,000 after acquiring an additional 339 shares in the last quarter. American Century Companies Inc. raised its holdings in Affirm by 59.7% in the first quarter. American Century Companies Inc. now owns 152,245 shares of the company’s stock valued at $6,880,000 after acquiring an additional 56,921 shares in the last quarter. Liontrust Investment Partners LLP raised its holdings in Affirm by 60.8% in the first quarter. Liontrust Investment Partners LLP now owns 112,150 shares of the company’s stock valued at $5,068,000 after acquiring an additional 42,414 shares in the last quarter. Fox Run Management L.L.C. raised its holdings in Affirm by 53.1% in the first quarter. Fox Run Management L.L.C. now owns 9,964 shares of the company’s stock valued at $450,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Affirm by 0.6% in the first quarter. Sei Investments Co. now owns 41,066 shares of the company’s stock valued at $1,856,000 after acquiring an additional 226 shares in the last quarter. 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.