Affirm (NASDAQ:AFRM) Earns Buy Rating from The Goldman Sachs Group

Affirm (NASDAQ:AFRM)‘s stock had its “buy” rating reiterated by The Goldman Sachs Group in a research report issued on Monday, Benzinga reports. They presently have a $42.00 price target on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 40.61% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Thursday, May 9th. Royal Bank of Canada restated a “sector perform” rating and set a $43.00 price target on shares of Affirm in a research note on Friday, May 24th. Barclays dropped their price target on Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $43.00 in a research note on Thursday, May 9th. Finally, BMO Capital Markets decreased their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $32.66.

Affirm Trading Down 0.9 %

Shares of NASDAQ AFRM opened at $29.87 on Monday. The stock’s 50-day moving average is $31.71 and its two-hundred day moving average is $37.36. 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 has a 1-year low of $12.81 and a 1-year high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. During the same quarter in the prior year, the business earned ($0.69) EPS. Affirm’s revenue was up 51.2% on a year-over-year basis. Analysts anticipate that Affirm will post -1.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares of the company’s stock, valued at $1,927,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

A number of hedge funds and other institutional investors have recently made changes to their positions in AFRM. Planned Solutions Inc. acquired a new position in Affirm in the fourth quarter valued at $25,000. Creative Financial Designs Inc. ADV boosted its holdings in Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in Affirm in the fourth quarter valued at $33,000. Global Wealth Strategies & Associates boosted its holdings in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Affirm in the fourth quarter valued at $49,000. 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.