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

Affirm (NASDAQ:AFRM) had its target price cut by equities researchers at The Goldman Sachs Group from $90.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 17.38% from the company’s previous close.

Several other brokerages have also issued reports on AFRM. 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. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their target price on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. 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. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.41.

Affirm Trading Up 9.2 %

AFRM opened at $47.71 on Tuesday. The firm has a market cap of $15.17 billion, a P/E ratio of -73.40 and a beta of 3.63. Affirm has a 12 month low of $22.25 and a 12 month high of $82.53. 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 stock has a 50-day moving average of $61.00 and a 200 day moving average of $55.95.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 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%. As a group, research analysts forecast that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

In other news, CFO Robert O’hare sold 6,541 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the completion of the sale, the chief financial officer now owns 2,963 shares in the company, valued at approximately $184,535.64. This represents a 68.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,301 shares of company stock valued at $3,920,543 over the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds have recently made changes to their positions in the company. Oppenheimer & Co. Inc. acquired a new position in shares of Affirm in the 3rd quarter valued at $1,419,000. Quest Partners LLC acquired a new stake in Affirm during the 3rd quarter worth about $391,000. Nordea Investment Management AB acquired a new stake in Affirm during the 4th quarter worth about $6,380,000. Charles Schwab Investment Management Inc. grew its position in Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares during the period. Finally, Atreides Management LP acquired a new stake in Affirm during the 3rd quarter worth about $20,404,000. 69.29% of the stock is owned by institutional investors and hedge funds.

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.