Affirm’s (AFRM) Buy Rating Reiterated at The Goldman Sachs Group

Affirm (NASDAQ:AFRM)‘s stock had its “buy” rating reissued by analysts at The Goldman Sachs Group in a report issued on Monday, Benzinga reports. They presently have a $42.00 price target on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 40.61% from the stock’s current price.

A number of other brokerages have also recently issued reports on AFRM. Mizuho reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Affirm in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. JPMorgan Chase & Co. raised shares of Affirm from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Finally, BTIG Research began coverage on shares of Affirm in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Affirm has an average rating of “Hold” and an average price target of $32.66.

Affirm Stock Performance

Affirm stock opened at $29.87 on Monday. The firm’s 50 day simple moving average is $31.71 and its 200 day simple moving average is $37.36. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm has a 1-year low of $12.81 and a 1-year high of $52.48.

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

Insiders Place Their Bets

In other news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the sale, the director now owns 60,000 shares in the company, valued at $1,927,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. 13.05% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Affirm by 1.7% during the third quarter. PNC Financial Services Group Inc. now owns 47,378 shares of the company’s stock valued at $1,008,000 after acquiring an additional 793 shares during the last quarter. Northern Trust Corp increased its position in Affirm by 3.1% during the third quarter. Northern Trust Corp now owns 1,002,905 shares of the company’s stock valued at $21,332,000 after acquiring an additional 30,552 shares during the last quarter. Algert Global LLC bought a new position in Affirm during the third quarter valued at $894,000. Trexquant Investment LP increased its position in Affirm by 79.1% during the third quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock valued at $8,421,000 after acquiring an additional 174,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Affirm by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.