The Goldman Sachs Group Lowers Affirm (NASDAQ:AFRM) Price Target to $56.00

Affirm (NASDAQ:AFRM) had its price objective reduced by research analysts at The Goldman Sachs Group from $90.00 to $56.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 26.92% from the company’s current price.

AFRM has been the subject of a number of other reports. UBS Group raised their target price on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho lifted their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company upped their target price on shares of Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Nine investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $68.24.

Affirm Trading Down 8.0 %

Shares of Affirm stock traded down $3.84 on Tuesday, reaching $44.12. The company had a trading volume of 5,145,944 shares, compared to its average volume of 7,992,523. The firm’s 50 day moving average price is $61.57 and its two-hundred day moving average price is $56.01. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The firm has a market cap of $14.03 billion, a PE ratio of -67.53 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Sell-side analysts predict that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the transaction, the director now directly owns 61,520 shares of the company’s stock, valued at $3,935,434.40. The trade was a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,801 shares of company stock worth $3,806,093. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently added to or reduced their stakes in AFRM. Wealth Enhancement Advisory Services LLC acquired a new stake in Affirm during the 4th quarter worth approximately $228,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Affirm during the fourth quarter worth $468,000. Leigh Baldwin & CO. LLC purchased a new position in Affirm in the 4th quarter valued at $210,000. Challenger Wealth Management acquired a new position in Affirm in the 4th quarter valued at $244,000. Finally, Forum Financial Management LP increased its stake in Affirm by 16.5% in the 4th quarter. Forum Financial Management LP now owns 7,985 shares of the company’s stock valued at $486,000 after buying an additional 1,128 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

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.