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

Affirm (NASDAQ:AFRM) had its price objective hoisted by research analysts at The Goldman Sachs Group from $46.00 to $54.00 in a report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 10.27% from the company’s previous close.

A number of other analysts have also commented on AFRM. JMP Securities started coverage on Affirm in a research note on Friday, June 28th. They issued a “market perform” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, October 8th. Finally, Barclays increased their price objective on Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Hold” and a consensus price target of $41.50.

Affirm Trading Up 4.0 %

Shares of NASDAQ:AFRM traded up $1.89 during trading on Monday, reaching $48.97. 8,831,326 shares of the company traded hands, compared to its average volume of 8,737,612. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of -21.96 and a beta of 3.50. Affirm has a 52-week low of $15.97 and a 52-week high of $52.48. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The business’s fifty day moving average is $36.84 and its 200-day moving average is $33.24.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The company had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. As a group, analysts forecast that Affirm will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,075 shares of company stock worth $4,803,786. 13.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. Capital World Investors boosted its position in Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after purchasing an additional 77,050 shares during the last quarter. Baillie Gifford & Co. boosted its position in Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after purchasing an additional 749,368 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in Affirm in the second quarter worth about $45,219,000. Finally, Bank of New York Mellon Corp boosted its position in Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after purchasing an additional 176,675 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.