Affirm (NASDAQ:AFRM) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Affirm (NASDAQ:AFRM) had its price target raised by equities researchers at The Goldman Sachs Group from $57.00 to $78.00 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 10.23% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Bank of America increased their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Barclays increased their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Mizuho increased their price target on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Wells Fargo & Company increased their price target on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $55.33.

Affirm Price Performance

NASDAQ:AFRM opened at $70.76 on Monday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm has a 12 month low of $22.25 and a 12 month high of $72.10. The business’s 50-day moving average is $49.76 and its 200 day moving average is $38.28.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the business earned ($0.57) earnings per share. On average, research analysts expect that Affirm will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert O’hare sold 13,965 shares of Affirm stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $68.57, for a total value of $957,580.05. Following the transaction, the chief financial officer now owns 668 shares of the company’s stock, valued at $45,804.76. The trade was a 95.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 891,694 shares of company stock worth $53,821,357 in the last 90 days. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in shares of Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after buying an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Affirm during the 3rd quarter valued at about $1,419,000. International Assets Investment Management LLC acquired a new stake in shares of Affirm during the 3rd quarter valued at about $731,000. Quest Partners LLC acquired a new stake in shares of Affirm during the 3rd quarter valued at about $391,000. Finally, Entropy Technologies LP acquired a new stake in shares of Affirm during the 3rd quarter valued at about $464,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.