Affirm (NASDAQ:AFRM) Receives Sector Perform Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Affirm (NASDAQ:AFRM) in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a $43.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on AFRM. Barclays decreased their target price on Affirm from $50.00 to $41.00 and set an overweight rating for the company in a research report on Tuesday, April 16th. Needham & Company LLC reissued a hold rating on shares of Affirm in a research report on Thursday, May 9th. Stephens increased their price objective on Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Affirm from $24.00 to $35.00 and gave the company a hold rating in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. raised Affirm from a neutral rating to an overweight rating and increased their price objective for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Affirm currently has a consensus rating of Hold and an average target price of $27.53.

Affirm Stock Up 1.2 %

Shares of Affirm stock opened at $30.03 on Friday. The stock has a market capitalization of $9.28 billion, a P/E ratio of -13.47 and a beta of 3.56. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. The stock has a 50 day moving average price of $33.45 and a two-hundred day moving average price of $37.13. Affirm has a 12-month low of $12.81 and a 12-month high of $52.48.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.69) earnings per share. Equities analysts expect that Affirm will post -1.98 earnings per share for the current year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 13.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV raised its stake in Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of Affirm by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after purchasing an additional 480 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of Affirm during the fourth quarter worth $25,000. Finally, Signaturefd LLC grew its holdings in shares of Affirm by 9.0% during the third quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock worth $136,000 after purchasing an additional 528 shares during the last quarter. 69.29% of the stock is currently 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.