Affirm (NASDAQ:AFRM) Given “Buy” Rating at The Goldman Sachs Group

Affirm (NASDAQ:AFRM)‘s stock had its “buy” rating reiterated by equities researchers at The Goldman Sachs Group in a research report issued on Monday, MarketBeat Ratings reports. They currently have a $42.00 price objective on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 27.39% from the stock’s previous close.

A number of other research analysts also recently commented on AFRM. Mizuho reaffirmed a “buy” rating and issued a $65.00 price target on shares of Affirm in a research note on Thursday, June 20th. Barclays dropped their price target on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. BTIG Research started coverage on Affirm in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $43.00 in a report on Thursday, May 9th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.66.

Affirm Stock Down 2.2 %

AFRM opened at $32.97 on Monday. Affirm has a fifty-two week low of $12.81 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94. The company has a market capitalization of $10.19 billion, a P/E ratio of -14.78 and a beta of 3.47. The stock has a fifty day moving average of $31.80 and a 200-day moving average of $37.26.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same quarter last year, the firm earned ($0.69) earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. On average, equities analysts expect that Affirm will post -1.98 EPS for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the transaction, the director now directly owns 60,000 shares of the company’s stock, valued at $1,927,200. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors have recently modified their holdings of the company. Planned Solutions Inc. acquired a new position in shares of Affirm during the fourth quarter worth approximately $25,000. Creative Financial Designs Inc. ADV raised its position in shares of Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. acquired a new position in shares of Affirm during the fourth quarter worth approximately $33,000. Global Wealth Strategies & Associates raised its position in shares of Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Affirm during the fourth quarter worth approximately $49,000. 69.29% of the stock is owned by institutional investors and hedge funds.

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.