Royal Bank of Canada Issues Positive Forecast for Affirm (NASDAQ:AFRM) Stock Price

Affirm (NASDAQ:AFRMFree Report) had its price target raised by Royal Bank of Canada from $67.00 to $81.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other analysts have also recently weighed in on the stock. Bank of America boosted their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Morgan Stanley upped their target price on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Finally, William Blair began coverage on shares of Affirm in a report on Wednesday, January 15th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.00.

View Our Latest Stock Analysis on Affirm

Affirm Trading Up 21.8 %

Shares of AFRM stock opened at $75.22 on Friday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market capitalization of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. Affirm has a twelve month low of $22.25 and a twelve month high of $76.88. The stock’s fifty day simple moving average is $63.09 and its 200 day simple moving average is $49.18.

Affirm (NASDAQ:AFRMGet Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. As a group, sell-side analysts predict that Affirm will post -0.62 EPS for the current fiscal year.

Insider Transactions at Affirm

In other news, COO Michael Linford sold 400,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at $5,893,125.80. The trade was a 82.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold 1,339,564 shares of company stock valued at $87,252,461 over the last ninety days. 12.41% of the stock is owned by company insiders.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AFRM. Geneos Wealth Management Inc. boosted its position in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in Affirm during the 4th quarter worth $33,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the 3rd quarter worth $29,000. Bogart Wealth LLC purchased a new stake in shares of Affirm in the fourth quarter valued at about $61,000. Finally, Valley National Advisers Inc. bought a new position in shares of Affirm during the fourth quarter valued at about $61,000. 69.29% of the stock is owned by institutional investors.

About Affirm

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Affirm (NASDAQ:AFRM)

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