Affirm (NASDAQ:AFRM) Given New $56.00 Price Target at The Goldman Sachs Group

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

Several other research analysts have also recently weighed in on AFRM. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Royal Bank of Canada lifted their price target on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Bank of America lifted their price target on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $69.76.

Affirm Trading Up 0.5 %

Shares of NASDAQ:AFRM opened at $47.95 on Tuesday. Affirm has a 52-week low of $22.25 and a 52-week high of $82.53. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of -73.77 and a beta of 3.63. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The business has a 50-day moving average price of $60.78 and a 200-day moving average price of $55.89.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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%. Equities analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other news, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total value of $407,373.48. Following the sale, the chief financial officer now directly owns 2,963 shares of the company’s stock, valued at $184,535.64. The trade was a 68.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 137,325 shares in the company, valued at $10,986,000. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,301 shares of company stock valued at $3,920,543 over the last ninety days. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. acquired a new position in Affirm during the fourth quarter worth $28,000. Geneos Wealth Management Inc. boosted its stake in Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd acquired a new position in Affirm during the fourth quarter worth $33,000. Coppell Advisory Solutions LLC acquired a new position in Affirm during the fourth quarter worth $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Affirm during the fourth quarter worth $43,000. Institutional investors and hedge funds 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.