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

Affirm (NASDAQ:AFRM) had its target price boosted by equities researchers at The Goldman Sachs Group from $78.00 to $90.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 15.11% from the company’s previous close.

A number of other equities analysts have also weighed in on AFRM. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. UBS Group raised their price objective on shares of Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday, December 16th. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research report on Friday, December 20th. Finally, Barclays increased their price objective on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Affirm Stock Performance

Shares of Affirm stock traded up $2.96 during mid-day trading on Monday, hitting $78.18. 8,109,593 shares of the stock were exchanged, compared to its average volume of 6,512,583. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company has a market capitalization of $24.55 billion, a P/E ratio of -120.28 and a beta of 3.66. The company has a 50-day simple moving average of $63.09 and a 200 day simple moving average of $49.48. Affirm has a 12 month low of $22.25 and a 12 month high of $79.67.

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, beating 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%. Sell-side analysts anticipate that Affirm will post -0.59 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other news, President Libor Michalek sold 6,629 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the sale, the president now owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert O’hare sold 11,218 shares of the company’s stock in a transaction 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. In the last 90 days, insiders have sold 1,038,626 shares of company stock valued at $70,690,871. Insiders own 12.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in shares of Affirm by 356.5% in the 4th 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 purchased a new stake in Affirm in the fourth quarter worth $33,000. ORG Wealth Partners LLC bought a new stake in Affirm in the third quarter valued at $29,000. Bogart Wealth LLC purchased a new position in Affirm during the 4th quarter valued at $61,000. Finally, Valley National Advisers Inc. bought a new position in Affirm in the 4th quarter worth $61,000. Hedge funds and other 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.