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

Affirm (NASDAQ:AFRM) had its price objective upped by investment analysts at The Goldman Sachs Group from $45.00 to $58.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 8.12% from the stock’s previous close.

A number of other brokerages also recently weighed in on AFRM. UBS Group lowered their price objective on Affirm from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday. TD Cowen started coverage on Affirm in a research report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price target for the company. JMP Securities decreased their target price on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, February 7th. Finally, William Blair began coverage on Affirm in a report on Wednesday, January 15th. They set an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.05.

Affirm Price Performance

Shares of Affirm stock traded up $7.23 during mid-day trading on Monday, reaching $53.64. 14,893,515 shares of the stock were exchanged, compared to its average volume of 8,020,940. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The firm has a 50-day simple moving average of $46.42 and a 200 day simple moving average of $56.81. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The company has a market cap of $17.06 billion, a price-to-earnings ratio of -82.58 and a beta of 3.66.

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

Insiders Place Their Bets

In related news, Director Keith Rabois sold 16,089 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the transaction, the director now owns 29,343 shares in the company, valued at approximately $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now owns 38,997 shares in the company, valued at $1,785,282.66. The trade was a 6.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,765 shares of company stock valued at $3,094,694. Corporate insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Several hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in shares of Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock valued at $1,477,747,000 after purchasing an additional 470,409 shares in the last quarter. Vanguard Group Inc. lifted its position in Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock worth $1,051,707,000 after buying an additional 1,457,434 shares in the last quarter. Capital World Investors raised its holdings in shares of Affirm by 0.4% in the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock valued at $1,116,861,000 after purchasing an additional 72,582 shares during the period. Durable Capital Partners LP grew its holdings in Affirm by 97.3% in the 4th 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 in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its position in shares of Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after purchasing an additional 538,892 shares in the last quarter. 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.