Affirm (NASDAQ:AFRM) Stock Rating Reaffirmed by Royal Bank of Canada

Affirm (NASDAQ:AFRM)‘s stock had its “sector perform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report issued on Friday, Benzinga reports. They currently have a $46.00 target price on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 16.87% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Mizuho reissued an “outperform” rating and set a $65.00 price objective on shares of Affirm in a report on Tuesday, August 27th. Susquehanna began coverage on shares of Affirm in a report on Friday, September 20th. They issued a “positive” rating and a $52.00 price target on the stock. Bank of America raised their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 target price on shares of Affirm in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Hold” and an average target price of $35.53.

Affirm Stock Performance

NASDAQ AFRM opened at $39.36 on Friday. The firm has a market cap of $12.17 billion, a P/E ratio of -17.65 and a beta of 3.50. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $35.29 and its 200-day moving average is $33.08. Affirm has a 12-month low of $15.97 and a 12-month high of $52.48.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The business had revenue of $659.19 million for the quarter, compared to analysts’ expectations of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. Sell-side analysts predict that Affirm will post -0.82 earnings per share for the current year.

Insider Activity at Affirm

In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,075 shares of company stock valued at $4,803,786. Corporate insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB boosted its position in Affirm by 24.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 62,200 shares of the company’s stock valued at $2,539,000 after buying an additional 12,200 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Affirm by 4.1% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 192,558 shares of the company’s stock worth $5,817,000 after purchasing an additional 7,500 shares during the period. Quarry LP bought a new stake in shares of Affirm in the second quarter worth about $109,000. Algert Global LLC increased its holdings in Affirm by 24.5% during the 2nd quarter. Algert Global LLC now owns 154,252 shares of the company’s stock valued at $4,660,000 after purchasing an additional 30,360 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Affirm by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after purchasing an additional 3,105 shares during the period. 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.