The Goldman Sachs Group Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRM) had its price target hoisted by The Goldman Sachs Group from $78.00 to $90.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

AFRM has been the subject of several other research reports. Morgan Stanley raised their price target on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday. Bank of America boosted their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. JMP Securities raised their price target on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price objective on shares of Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Affirm Price Performance

Affirm stock opened at $77.75 on Monday. The firm has a market capitalization of $24.42 billion, a PE ratio of -119.62 and a beta of 3.66. Affirm has a 52 week low of $22.25 and a 52 week high of $79.67. The firm’s 50-day simple moving average is $63.27 and its 200 day simple moving average is $49.84. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.29%. On average, equities research analysts predict that Affirm will post -0.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $68.98, for a total value of $1,109,612.28. Following the transaction, the director now owns 109,780 shares of the company’s stock, valued at approximately $7,572,624.40. This trade represents a 12.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the sale, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $9,885,838. This trade represents a 38.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,038,626 shares of company stock worth $70,690,871 over the last three months. 12.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Affirm

Large investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. purchased a new position in Affirm in the 3rd quarter worth approximately $1,419,000. Quest Partners LLC purchased a new position in shares of Affirm in the third quarter valued at $391,000. International Assets Investment Management LLC purchased a new position in shares of Affirm in the third quarter valued at $731,000. Entropy Technologies LP acquired a new stake in Affirm during the 3rd quarter valued at $464,000. Finally, Nordea Investment Management AB purchased a new stake in Affirm during the 4th quarter worth $6,380,000. 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.