Affirm (NASDAQ:AFRM) Stock Gets Price Target Trim from The Goldman Sachs Group

Affirm (NASDAQ:AFRM) had its price objective reduced by The Goldman Sachs Group from $115.00 to $103.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on AFRM. Susquehanna raised their price target on Affirm from $105.00 to $110.00 and gave the stock a “positive” rating in a report on Friday, August 28th. Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Bank of America boosted their price objective on Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Oppenheimer upped their price objective on Affirm from $100.00 to $104.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Affirm in a research report on Friday, August 28th. Twenty-four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.69.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $75.92 on Tuesday. The company has a market cap of $25.62 billion, a PE ratio of 13.75, a P/E/G ratio of 2.83 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 firm has a 50-day simple moving average of $73.68 and a 200 day simple moving average of $70.32. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the company posted $0.20 earnings per share. Affirm’s revenue was up 33.1% on a year-over-year basis. On average, sell-side analysts anticipate that Affirm will post 1.91 EPS for the current year.

Insider Activity

In other Affirm news, CAO Siphelele Jiyane sold 26,980 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the transaction, the chief accounting officer owned 188,711 shares in the company, valued at approximately $13,623,047.09. This represents a 12.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert O’Hare sold 65,591 shares of the company’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the completion of the transaction, the chief financial officer owned 2,734 shares of the company’s stock, valued at approximately $218,774.68. This trade 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. Over the last 90 days, insiders sold 280,118 shares of company stock valued at $22,223,307. Company insiders own 11.01% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AFRM. Mather Group LLC. increased its holdings in shares of Affirm by 52.9% during the third quarter. Mather Group LLC. now owns 613 shares of the company’s stock valued at $42,000 after purchasing an additional 212 shares during the period. Seelaus Asset Management LLC raised its stake in shares of Affirm by 29.5% during the third quarter. Seelaus Asset Management LLC now owns 3,962 shares of the company’s stock valued at $274,000 after purchasing an additional 903 shares in the last quarter. GK Wealth Management LLC bought a new stake in shares of Affirm during the third quarter valued at about $88,000. Rhodes Investment Advisors Inc. ADV lifted its holdings in Affirm by 1.3% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company’s stock worth $788,000 after purchasing an additional 149 shares during the period. Finally, Congress Asset Management Co. lifted its holdings in Affirm by 3.0% in the third quarter. Congress Asset Management Co. now owns 439,115 shares of the company’s stock worth $30,400,000 after purchasing an additional 12,645 shares during the period. 69.29% of the stock is owned by institutional investors.

About Affirm

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.