Affirm (NASDAQ:AFRM – Get Free Report) had its price target dropped by equities research analysts at The Goldman Sachs Group from $115.00 to $103.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 30.99% from the company’s current price.
Several other brokerages also recently commented on AFRM. Citigroup reissued a “market outperform” rating on shares of Affirm in a research report on Friday, August 28th. Barclays raised their price objective on shares of Affirm from $97.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Robert W. Baird lifted their target price on shares of Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Royal Bank Of Canada upped their target price on shares of Affirm from $80.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Finally, UBS Group upped their target price on shares of Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.69.
Read Our Latest Report on AFRM
Affirm Trading Down 2.6%
Affirm (NASDAQ:AFRM – Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $0.35 by $4.27. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The company’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned $0.20 earnings per share. As a group, equities analysts forecast that Affirm will post 1.87 EPS for the current fiscal year.
Insider Transactions at Affirm
In related news, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the sale, the chief accounting officer directly owned 188,711 shares of the company’s stock, valued at $13,623,047.09. This trade represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Linford sold 79,219 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. This trade represents a 39.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 214,527 shares of company stock worth $16,974,716 over the last quarter. 11.01% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Affirm
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhodes Investment Advisors Inc. ADV boosted its holdings in shares of Affirm by 1.3% during the 3rd quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company’s stock valued at $788,000 after acquiring an additional 149 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Affirm by 3.6% in the first quarter. QRG Capital Management Inc. now owns 9,684 shares of the company’s stock worth $444,000 after acquiring an additional 340 shares during the period. IFP Advisors Inc raised its holdings in shares of Affirm by 9.2% during the second quarter. IFP Advisors Inc now owns 4,080 shares of the company’s stock valued at $333,000 after purchasing an additional 343 shares during the last quarter. ABN Amro Investment Solutions raised its holdings in shares of Affirm by 3.6% during the first quarter. ABN Amro Investment Solutions now owns 10,931 shares of the company’s stock valued at $501,000 after purchasing an additional 378 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Affirm by 11.9% during the first quarter. Parallel Advisors LLC now owns 4,497 shares of the company’s stock valued at $206,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.
Affirm Company Profile
Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.
Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.
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