The Goldman Sachs Group Raises Affirm (NASDAQ:AFRM) Price Target to $54.00

Affirm (NASDAQ:AFRM) had its target price raised by The Goldman Sachs Group from $46.00 to $54.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on the company. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Susquehanna assumed coverage on shares of Affirm in a research note on Friday, September 20th. They set a “positive” rating and a $52.00 target price on the stock. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and upped their price target for the company from $25.00 to $45.00 in a research report on Monday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Affirm presently has a consensus rating of “Hold” and a consensus price target of $41.50.

Affirm Stock Up 0.2 %

AFRM opened at $47.97 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. The company has a market capitalization of $14.83 billion, a PE ratio of -21.51 and a beta of 3.50. The stock’s fifty day moving average is $38.28 and its 200-day moving average is $33.50. Affirm has a one year low of $15.97 and a one year high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, equities analysts predict that Affirm will post -0.82 EPS for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 112,075 shares of company stock valued at $4,803,786. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds have recently bought and sold shares of AFRM. Syon Capital LLC bought a new stake in Affirm during the 4th quarter valued at approximately $360,000. Vanguard Group Inc. raised its stake in Affirm by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock valued at $958,569,000 after purchasing an additional 769,843 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Affirm in the 4th quarter worth $252,000. Los Angeles Capital Management LLC acquired a new position in shares of Affirm during the first quarter valued at about $749,000. Finally, RJA Asset Management LLC bought a new stake in shares of Affirm in the first quarter valued at about $14,808,000. 69.29% of the stock is currently owned by institutional investors.

Affirm Company Profile

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.