The Goldman Sachs Group Forecasts Strong Price Appreciation for Affirm (NASDAQ:AFRM) Stock

Affirm (NASDAQ:AFRM) had its price objective lifted by analysts at The Goldman Sachs Group from $45.00 to $58.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 8.12% from the stock’s current price.

Several other equities research analysts also recently weighed in on AFRM. Royal Bank of Canada increased their target price on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $61.00 to $64.00 in a report on Wednesday, March 19th. JMP Securities dropped their price target on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, February 7th. Finally, Evercore ISI began coverage on shares of Affirm in a research note on Wednesday, April 9th. They set an “outperform” rating and a $50.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Affirm Stock Performance

Shares of NASDAQ AFRM traded up $7.23 during midday trading on Monday, hitting $53.64. The company’s stock had a trading volume of 14,893,515 shares, compared to its average volume of 8,020,940. Affirm has a one year low of $22.25 and a one year high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $17.06 billion, a price-to-earnings ratio of -82.58 and a beta of 3.66. The stock has a fifty day moving average price of $46.42 and a 200 day moving average price of $56.81.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to analysts’ expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. Affirm’s revenue was up 35.9% on a year-over-year basis. During the same period last year, the company posted ($0.43) EPS. On average, research analysts forecast that Affirm will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the sale, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. This represents a 3.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith Rabois sold 16,089 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the completion of the sale, the director now owns 29,343 shares of the company’s stock, valued at $1,496,493. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,765 shares of company stock valued at $3,094,694 in the last ninety days. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its stake in shares of Affirm by 2.0% during the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after acquiring an additional 470,409 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after purchasing an additional 1,457,434 shares during the last quarter. Capital World Investors raised its holdings in shares of Affirm by 0.4% during the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after acquiring an additional 72,582 shares in the last quarter. Durable Capital Partners LP raised its holdings in Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after buying an additional 2,888,827 shares during the period. Finally, Jericho Capital Asset Management L.P. boosted its position in Affirm by 11.6% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock valued at $316,561,000 after purchasing an additional 538,892 shares in 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.