Affirm (NASDAQ:AFRM) Stock Rating Reaffirmed by The Goldman Sachs Group

The Goldman Sachs Group reiterated their buy rating on shares of Affirm (NASDAQ:AFRM) in a report issued on Monday morning, Marketbeat Ratings reports. They currently have a $42.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. BTIG Research started coverage on shares of Affirm in a research note on Friday, June 7th. They issued a neutral rating for the company. Barclays reduced their price objective on shares of Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research note on Tuesday, April 16th. Royal Bank of Canada reissued a sector perform rating and issued a $43.00 price objective on shares of Affirm in a research note on Friday, May 24th. Needham & Company LLC reaffirmed a hold rating on shares of Affirm in a report on Thursday, May 9th. Finally, Mizuho reaffirmed a buy rating and issued a $65.00 price target on shares of Affirm in a report on Thursday, June 20th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on 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 $30.46 on Monday. The company has a 50 day moving average price of $31.80 and a 200-day moving average price of $37.17. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94. Affirm has a fifty-two week low of $12.81 and a fifty-two week high of $52.48. The company has a market capitalization of $9.42 billion, a PE ratio of -13.66 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.27. The firm had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. As a group, equities analysts forecast that Affirm will post -1.98 earnings per share for the current year.

Insider Buying and Selling at Affirm

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

Institutional Investors Weigh In On Affirm

Several hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV raised its position in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares during the period. Global Wealth Strategies & Associates raised its position in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina raised its position 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 acquiring an additional 480 shares during the period. Planned Solutions Inc. acquired a new position in shares of Affirm in the fourth quarter worth about $25,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Affirm in the fourth quarter worth about $33,000. 69.29% of the stock is owned by hedge funds and other 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.