Affirm (NASDAQ:AFRM) Given New $78.00 Price Target at The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its target price raised by The Goldman Sachs Group from $57.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on AFRM. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Mizuho raised their target price on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Susquehanna upped their price target on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Barclays lifted their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $55.33.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $68.39 on Monday. The firm has a market capitalization of $21.48 billion, a PE ratio of -47.77 and a beta of 3.47. Affirm has a 12 month low of $22.25 and a 12 month high of $72.10. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The business has a 50-day moving average of $49.29 and a two-hundred day moving average of $38.02.

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

Insider Activity at Affirm

In other news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 9.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 868,253 shares of company stock valued at $52,186,668. Corporate insiders own 12.41% of the company’s stock.

Institutional Investors Weigh In On Affirm

Large investors have recently added to or reduced their stakes in the stock. KBC Group NV boosted its holdings in shares of Affirm by 3.6% during the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc grew its position in Affirm by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after purchasing an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the period. ORG Partners LLC raised its holdings in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares during the last quarter. Finally, Myecfo LLC boosted its position in shares of Affirm by 5.0% during the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after buying an additional 589 shares during the period. 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.