Affirm (NASDAQ:AFRM) Price Target Raised to $90.00

Affirm (NASDAQ:AFRM) had its price objective upped by research analysts at The Goldman Sachs Group from $78.00 to $90.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 15.11% from the stock’s previous close.

Several other equities analysts also recently commented on AFRM. Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a report on Tuesday, January 21st. Mizuho upped their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. William Blair initiated coverage on Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday. Finally, Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.24.

Affirm Stock Performance

NASDAQ AFRM traded up $2.96 on Monday, hitting $78.18. 8,109,593 shares of the stock were exchanged, compared to its average volume of 6,512,583. The business’s fifty day moving average is $63.09 and its 200 day moving average is $49.48. Affirm has a 52 week low of $22.25 and a 52 week high of $79.67. The company has a market capitalization of $24.55 billion, a PE ratio of -120.28 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60.

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

Insider Activity at Affirm

In other news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now owns 77,608 shares in the company, valued at approximately $4,665,792.96. The trade was a 17.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert O’hare sold 11,218 shares of the stock in a transaction on Friday, November 22nd. The stock was 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. Insiders sold a total of 1,038,626 shares of company stock valued at $70,690,871 in the last quarter. Insiders own 12.41% of the company’s stock.

Institutional Trading of Affirm

A number of institutional investors have recently bought and sold shares of the company. Spyglass Capital Management LLC boosted its position in shares of Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Affirm by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock valued at $138,368,000 after acquiring an additional 68,848 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after acquiring an additional 5,169 shares during the period. Artemis Investment Management LLP boosted its stake in Affirm by 2.1% during the fourth quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock worth $46,908,000 after acquiring an additional 15,517 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after purchasing an additional 528,400 shares during the period. Institutional investors 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.