Affirm (NASDAQ:AFRM) Price Target Raised to $58.00

Affirm (NASDAQ:AFRM) had its price target hoisted by The Goldman Sachs Group from $45.00 to $58.00 in a research report released on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other brokerages have also recently commented on AFRM. Morgan Stanley reduced their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Bank of America boosted their price objective on Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 9th. TD Cowen assumed coverage on shares of Affirm in a report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Finally, JMP Securities lowered their price target on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $65.05.

Affirm Stock Up 4.8%

Shares of AFRM stock opened at $56.55 on Monday. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm has a 12 month low of $22.25 and a 12 month high of $82.53. The stock has a market cap of $17.99 billion, a P/E ratio of -87.00 and a beta of 3.66. The company has a 50 day simple moving average of $46.44 and a two-hundred day simple moving average of $56.88.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data 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 firm had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.43) EPS. On average, research analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Affirm

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFRM. Allworth Financial LP lifted its stake in shares of Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. raised its holdings in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the period. R Squared Ltd bought a new stake in Affirm in the fourth quarter worth $33,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Affirm during the fourth quarter worth $40,000. Hedge funds and other institutional investors 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.