Affirm (NASDAQ:AFRM) PT Raised to $54.00 at The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its price objective upped by The Goldman Sachs Group from $46.00 to $54.00 in a research report released on Monday morning, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also weighed in on AFRM. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $45.00 in a research note on Monday. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research note on Friday, October 4th. Susquehanna initiated coverage on Affirm in a research note on Friday, September 20th. They issued a “positive” rating and a $52.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.50.

Affirm Stock Performance

NASDAQ AFRM opened at $43.93 on Monday. The stock has a 50-day simple moving average of $38.66 and a two-hundred day simple moving average of $33.57. The firm has a market capitalization of $13.58 billion, a P/E ratio of -19.70 and a beta of 3.50. Affirm has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The business had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. On average, equities analysts forecast that Affirm will post -0.82 earnings per share for the current year.

Insider Activity

In other news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,075 shares of company stock worth $4,803,786 over the last ninety days. Corporate insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in 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 acquiring an additional 540 shares during the last quarter. ORG Partners LLC lifted its holdings in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares during the last quarter. Myecfo LLC lifted its holdings in Affirm by 5.0% in the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after acquiring an additional 589 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Affirm by 5.7% in the second quarter. Commonwealth Equity Services LLC now owns 12,548 shares of the company’s stock valued at $379,000 after acquiring an additional 680 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Affirm in the third quarter valued at approximately $29,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.