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

Affirm (NASDAQ:AFRM) had its price target lowered by equities researchers at The Goldman Sachs Group from $90.00 to $56.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 17.38% from the company’s current price.

AFRM has been the topic of several other research reports. Morgan Stanley upped their price target on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.41.

Affirm Trading Up 9.2 %

AFRM opened at $47.71 on Tuesday. The business has a 50 day simple moving average of $61.00 and a two-hundred day simple moving average of $55.95. The firm has a market capitalization of $15.17 billion, a price-to-earnings ratio of -73.40 and a beta of 3.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. Affirm has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM) last announced its earnings results 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%. Analysts predict that Affirm will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now directly owns 38,997 shares in the company, valued at approximately $1,785,282.66. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,301 shares of company stock valued at $3,920,543. 12.41% of the stock is owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its position in shares of Affirm by 10.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 24,902 shares of the company’s stock valued at $1,016,000 after purchasing an additional 2,432 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Affirm during the third quarter valued at about $1,419,000. KBC Group NV grew its position in shares of Affirm by 3.6% during the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new position in shares of Affirm during the third quarter valued at about $759,000. 69.29% of the stock is owned by institutional investors.

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.