Affirm (NASDAQ:AFRM) Price Target Raised to $75.00

Affirm (NASDAQ:AFRM - Get Free Report) had its price target boosted by analysts at Royal Bank Of Canada from $70.00 to $75.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 9.43% from the stock's current price.

Other research analysts have also issued research reports about the company. The Goldman Sachs Group increased their price objective on Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 12th. Susquehanna raised Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price objective on the stock in a report on Friday, May 9th. UBS Group lowered their target price on Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Wall Street Zen lowered Affirm from a "buy" rating to a "hold" rating in a report on Friday, June 6th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Affirm in a report on Monday, June 30th. 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $65.90.

Affirm Stock Down 0.8%

NASDAQ:AFRM traded down $0.53 during trading hours on Tuesday, hitting $68.54. 4,051,191 shares of the company's stock traded hands, compared to its average volume of 8,350,938. The firm has a market cap of $22.11 billion, a P/E ratio of -326.38, a P/E/G ratio of 2.46 and a beta of 3.63. Affirm has a twelve month low of $22.25 and a twelve month high of $82.53. 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 stock's fifty day moving average price is $57.94 and its two-hundred day moving average price is $56.52.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same period in the previous year, the firm earned ($0.43) earnings per share. Affirm's quarterly revenue was up 35.9% on a year-over-year basis. On average, research analysts expect that Affirm will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the sale, the director owned 36,497 shares of the company's stock, valued at $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Adkins sold 57,102 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $70.27, for a total value of $4,012,557.54. Following the sale, the insider directly owned 112,467 shares in the company, valued at approximately $7,903,056.09. This represents a 33.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,247 shares of company stock valued at $6,422,823. Corporate insiders own 11.82% of the company's stock.

Institutional Investors Weigh In On Affirm

A number of hedge funds have recently modified their holdings of AFRM. Durable Capital Partners LP raised its position in shares of Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the period. Price T Rowe Associates Inc. MD raised its position in Affirm by 140.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock valued at $205,350,000 after buying an additional 2,657,074 shares during the last quarter. Norges Bank acquired a new stake in Affirm in the 4th quarter valued at approximately $139,949,000. Capital International Investors acquired a new stake in Affirm in the 4th quarter valued at approximately $100,030,000. Finally, Vanguard Group Inc. raised its position in Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after buying an additional 1,457,434 shares during the last quarter. Institutional investors and hedge funds 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.