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

Affirm (NASDAQ:AFRM - Get Free Report)'s stock had its "sector perform" rating restated by equities research analysts at Royal Bank of Canada in a research 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 target would indicate a potential upside of 25.65% from the stock's previous close.

A number of other analysts also recently weighed in on the stock. 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 report on Friday, May 9th. Morgan Stanley reduced their price objective on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their price objective on shares of Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 12th. TD Cowen began coverage on Affirm in a research report on Tuesday, April 8th. They issued a "buy" rating and a $50.00 target price for the company. Finally, Bank of America upped their price target on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Affirm has a consensus rating of "Moderate Buy" and a consensus target price of $64.15.

Affirm Price Performance

Shares of Affirm stock traded up $1.38 during trading on Thursday, hitting $55.71. 6,297,789 shares of the company were exchanged, compared to its average volume of 8,544,788. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The stock has a market capitalization of $17.97 billion, a price-to-earnings ratio of -85.71 and a beta of 3.58. The firm has a 50 day moving average price of $47.59 and a 200 day moving average price of $57.09. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.43) EPS. On average, equities analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction 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 transaction, the director now owns 38,997 shares of the company's stock, valued at approximately $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Rabois sold 16,088 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total transaction of $730,556.08. Following the completion of the transaction, the director now owns 45,432 shares in the company, valued at approximately $2,063,067.12. The trade was a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,677 shares of company stock worth $1,665,545 in the last 90 days. Corporate insiders own 11.82% of the company's stock.

Institutional Investors Weigh In On Affirm

Institutional investors and hedge funds have recently made changes to their positions in the business. Truist Financial Corp purchased a new position in Affirm in the 4th quarter worth $212,000. Essex Financial Services Inc. purchased a new stake in shares of Affirm in the 4th quarter worth about $244,000. Ameriprise Financial Inc. grew its holdings in Affirm by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company's stock worth $8,887,000 after purchasing an additional 3,672 shares during the period. Choreo LLC purchased a new stake in shares of Affirm in the 4th quarter worth approximately $261,000. Finally, Steward Partners Investment Advisory LLC grew its position in Affirm by 59.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company's stock valued at $114,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company's stock.

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.