The Goldman Sachs Group Reiterates Buy Rating for Affirm (NASDAQ:AFRM)

The Goldman Sachs Group reaffirmed their buy rating on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Monday, MarketBeat Ratings reports. The Goldman Sachs Group currently has a $42.00 target price on the stock.

A number of other equities analysts have also weighed in on the stock. Mizuho reiterated a buy rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Barclays decreased their price target on shares of Affirm from $50.00 to $41.00 and set an overweight rating on the stock in a report on Tuesday, April 16th. BMO Capital Markets decreased their price target on shares of Affirm from $48.00 to $46.00 and set a market perform rating on the stock in a report on Friday, May 10th. Royal Bank of Canada reiterated a sector perform rating and issued a $43.00 price target on shares of Affirm in a report on Friday, May 24th. Finally, Needham & Company LLC reiterated a hold rating on shares of Affirm in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $32.66.

Affirm Stock Down 3.0 %

Shares of NASDAQ AFRM opened at $30.46 on Monday. Affirm has a 1 year low of $12.81 and a 1 year high of $52.48. The firm’s 50 day moving average price is $31.80 and its 200 day moving average price is $37.17. The firm has a market cap of $9.42 billion, a P/E ratio of -13.66 and a beta of 3.47. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. During the same quarter last year, the business earned ($0.69) earnings per share. Affirm’s revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affirm will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the sale, the director now owns 60,000 shares in the company, valued at approximately $1,927,200. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV raised its stake in shares of Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina raised its stake in Affirm by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after acquiring an additional 480 shares during the period. Planned Solutions Inc. acquired a new stake in Affirm during the fourth quarter worth about $25,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Affirm during the fourth quarter worth about $33,000. 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.