Affirm (NASDAQ:AFRM) Price Target Raised to $90.00 at The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its price objective hoisted by The Goldman Sachs Group from $78.00 to $90.00 in a research report released on Monday morning,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. Royal Bank of Canada increased their target price on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their target price on shares of Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Mizuho increased their target price 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. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Affirm Stock Performance

AFRM opened at $75.66 on Monday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a market cap of $23.76 billion, a price-to-earnings ratio of -116.40 and a beta of 3.66. Affirm has a 52-week low of $22.25 and a 52-week high of $79.67. The firm’s fifty day simple moving average is $63.49 and its two-hundred day simple moving average is $50.37.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.29%. Equities analysts anticipate that Affirm will post -0.59 earnings per share for the current fiscal year.

Insider Activity

In other news, President Libor Michalek sold 77,105 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $64.08, for a total value of $4,940,888.40. Following the completion of the transaction, the president now owns 159,449 shares of the company’s stock, valued at approximately $10,217,491.92. This trade represents a 32.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 11,218 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $70.00, for a total transaction of $785,260.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,038,626 shares of company stock valued at $70,690,871. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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 during the last quarter. Geode Capital Management LLC lifted its stake in Affirm by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 4,173,353 shares of the company’s stock worth $254,238,000 after acquiring an additional 212,234 shares during the last quarter. Spyglass Capital Management LLC raised its holdings in Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Norges Bank acquired a new stake in Affirm during the fourth quarter worth approximately $139,949,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Affirm by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock worth $138,368,000 after purchasing an additional 68,848 shares in the last quarter. 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.