Royal Bank of Canada Reaffirms “Sector Perform” Rating for Affirm (NASDAQ:AFRM)

Affirm (NASDAQ:AFRM)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a note issued to investors on Thursday,Benzinga reports. They presently have a $70.00 price target on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 18.81% from the company’s current price.

Other analysts have also recently issued reports about the company. Truist Financial started coverage on Affirm in a research note on Monday, June 2nd. They issued a “buy” rating and a $58.00 price objective on the stock. The Goldman Sachs Group increased their price target on Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 12th. TD Cowen began coverage on Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price objective for the company. JMP Securities cut their target price on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Friday, May 9th. Finally, UBS Group decreased their price target on shares of Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Eight equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.15.

Affirm Stock Up 5.8%

Shares of NASDAQ:AFRM opened at $58.92 on Thursday. The firm has a market capitalization of $19.01 billion, a PE ratio of -90.65 and a beta of 3.58. Affirm has a 1 year low of $22.25 and a 1 year high of $82.53. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The firm’s 50-day moving average is $47.85 and its two-hundred day moving average is $57.05.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analysts’ expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.43) earnings per share. Analysts predict that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the sale, the director now owns 38,997 shares in the company, valued at approximately $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total transaction of $730,556.08. Following the transaction, the director now owns 45,432 shares in the company, valued at approximately $2,063,067.12. This trade represents a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,677 shares of company stock valued at $1,665,545. 11.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently modified their holdings of the business. Truist Financial Corp purchased a new position in Affirm during the 4th quarter worth $212,000. Essex Financial Services Inc. acquired a new stake in shares of Affirm during the fourth quarter worth about $244,000. Ameriprise Financial Inc. boosted its stake in shares of Affirm by 2.6% during the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company’s stock worth $8,887,000 after buying an additional 3,672 shares during the period. Choreo LLC purchased a new position in shares of Affirm during the fourth quarter worth about $261,000. Finally, Steward Partners Investment Advisory LLC increased its position in Affirm by 59.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company’s stock valued at $114,000 after acquiring an additional 700 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Company Profile

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.