The Goldman Sachs Group Has Lowered Expectations for Affirm (NASDAQ:AFRM) Stock Price

by · The Markets Daily

Affirm (NASDAQ:AFRM – Get Free Report) had its price objective reduced by analysts at The Goldman Sachs Group from $115.00 to $103.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 46.08% from the stock’s previous close.

Several other equities research analysts have also issued reports on AFRM. Robert W. Baird upped their price target on Affirm from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Susquehanna raised their price objective on Affirm from $105.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, August 28th. Wells Fargo & Company lifted their price objective on shares of Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Scotiabank initiated coverage on shares of Affirm in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $95.00 target price for the company. Finally, Royal Bank Of Canada boosted their target price on shares of Affirm from $80.00 to $96.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. Twenty-four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.69.

Read Our Latest Report on AFRM

Affirm Stock Down 9.5%

Shares of Affirm stock opened at $70.51 on Tuesday. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The firm has a market cap of $23.79 billion, a P/E ratio of 12.77, a P/E/G ratio of 3.13 and a beta of 3.82. Affirm has a fifty-two week low of $42.10 and a fifty-two week high of $90.44. The business has a 50-day moving average price of $73.69 and a 200 day moving average price of $70.08.

Affirm (NASDAQ:AFRM – Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. Affirm’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, sell-side analysts forecast that Affirm will post 1.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Michael Linford sold 79,219 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the completion of the transaction, the chief operating officer owned 120,713 shares in the company, valued at $10,865,377.13. The trade was a 39.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the business’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the transaction, the chief financial officer owned 2,734 shares of the company’s stock, valued at $218,774.68. This represents a 96.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 280,118 shares of company stock worth $22,223,307. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. raised its position in shares of Affirm by 52.9% during the 3rd quarter. Mather Group LLC. now owns 613 shares of the company’s stock worth $42,000 after buying an additional 212 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Affirm in the 4th quarter worth approximately $49,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Affirm in the 1st quarter worth approximately $34,000. Ascentis Independent Advisors bought a new position in shares of Affirm in the first quarter valued at approximately $41,000. Finally, CX Institutional boosted its holdings in shares of Affirm by 2,724.3% in the second quarter. CX Institutional now owns 1,045 shares of the company’s stock valued at $85,000 after acquiring an additional 1,008 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

(Get Free Report)

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.

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