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

Affirm (NASDAQ:AFRM) had its target price lowered by The Goldman Sachs Group from $90.00 to $56.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

AFRM has been the topic of several other research reports. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Barclays increased their target price on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Compass Point upgraded Affirm from a “sell” rating to a “neutral” rating and increased their target price for the stock from $20.00 to $61.00 in a research note on Tuesday, January 28th. Finally, Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.76.

Affirm Stock Up 0.5 %

NASDAQ AFRM opened at $47.95 on Tuesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The company has a market capitalization of $15.25 billion, a P/E ratio of -73.77 and a beta of 3.63. Affirm has a one year low of $22.25 and a one year high of $82.53. The stock has a 50 day moving average price of $60.78 and a 200-day moving average price of $55.89.

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

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $45.78, for a total transaction of $114,450.00. Following the sale, the director now owns 38,997 shares of the company’s stock, valued at $1,785,282.66. This trade represents a 6.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the sale, the director now directly owns 93,694 shares in the company, valued at approximately $5,839,010.08. The trade was a 14.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 62,301 shares of company stock valued at $3,920,543 over the last quarter. 12.41% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Several institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its holdings in Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after acquiring an additional 470,409 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Affirm by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after acquiring an additional 716,574 shares in the last quarter. Capital World Investors boosted its holdings in Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after acquiring an additional 72,582 shares in the last quarter. Durable Capital Partners LP boosted its holdings in Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after acquiring an additional 2,888,827 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after acquiring an additional 538,892 shares in the last quarter. Institutional investors and hedge funds 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.