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

Affirm (NASDAQ:AFRM) had its price target lifted by research analysts at The Goldman Sachs Group from $57.00 to $78.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 14.98% from the company’s current price.

A number of other brokerages have also recently issued reports on AFRM. JPMorgan Chase & Co. upped their price objective on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday. Barclays upped their price objective on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Susquehanna upped their price objective on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Finally, Mizuho increased their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.33.

Affirm Price Performance

Shares of NASDAQ:AFRM traded down $2.17 during trading on Monday, reaching $67.84. The company had a trading volume of 5,674,432 shares, compared to its average volume of 9,055,382. The company has a fifty day moving average of $49.29 and a two-hundred day moving average of $38.02. The stock has a market capitalization of $21.31 billion, a P/E ratio of -47.77 and a beta of 3.47. Affirm has a 12 month low of $22.25 and a 12 month high of $72.10. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the prior year, the firm earned ($0.57) EPS. Equities research analysts forecast that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 47.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 868,253 shares of company stock worth $52,186,668 in the last three months. 12.41% of the stock is owned by corporate insiders.

Institutional Trading of Affirm

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in shares of Affirm during the 2nd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Affirm during the 3rd quarter valued at about $29,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Affirm by 82.4% during the 2nd 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 boosted its holdings in shares of Affirm by 80.0% during the 2nd 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. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares during the last quarter. 69.29% of the stock is currently owned by 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.