Deutsche Bank Aktiengesellschaft Initiates Coverage on Affirm (NASDAQ:AFRM)

Equities researchers at Deutsche Bank Aktiengesellschaft began coverage on shares of Affirm (NASDAQ:AFRM) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $78.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 13.21% from the company’s current price.

Other research analysts have also issued reports about the company. Compass Point raised Affirm from a “neutral” rating to a “buy” rating and increased their price objective for the company from $61.00 to $64.00 in a report on Wednesday, March 19th. Evercore ISI started coverage on Affirm in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 target price on the stock. BTIG Research downgraded Affirm from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Royal Bank Of Canada upped their target price on Affirm from $70.00 to $75.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen downgraded Affirm from a “buy” rating to a “hold” rating in a research note on Friday, June 6th. Nine investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.71.

Affirm Stock Down 0.8%

Shares of AFRM stock opened at $68.90 on Thursday. The stock’s 50-day simple moving average is $60.17 and its 200-day simple moving average is $56.64. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The firm has a market capitalization of $22.23 billion, a PE ratio of -328.10, a P/E/G ratio of 2.41 and a beta of 3.63. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53.

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 business had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company’s revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.43) earnings per share. Equities analysts expect that Affirm will post -0.18 earnings per share for the current year.

Insider Activity at Affirm

In other news, Director Keith Rabois sold 16,089 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the transaction, the director owned 29,343 shares in the company, valued at $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. This trade represents a 6.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,247 shares of company stock valued at $6,422,823 in the last ninety days. 11.82% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Affirm by 2,800.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company’s stock valued at $2,083,000 after acquiring an additional 44,495 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Affirm by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company’s stock valued at $8,887,000 after acquiring an additional 3,672 shares in the last quarter. Spire Wealth Management purchased a new position in shares of Affirm in the first quarter valued at approximately $120,000. Deutsche Bank AG lifted its position in shares of Affirm by 2.6% in the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company’s stock valued at $1,973,000 after acquiring an additional 817 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of Affirm by 5.3% in the fourth quarter. Sei Investments Co. now owns 40,840 shares of the company’s stock valued at $2,487,000 after acquiring an additional 2,067 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.