Affirm’s (AFRM) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of Affirm (NASDAQ:AFRM) in a report published on Thursday,Benzinga reports. They currently have a $70.00 price target on the stock.

A number of other analysts also recently weighed in on AFRM. Bank of America lifted their price target on Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. UBS Group decreased their price target on Affirm from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group lifted their price target on Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, Morgan Stanley decreased their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $64.15.

Affirm Trading Up 5.8%

AFRM opened at $58.92 on Thursday. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of -90.65 and a beta of 3.58. Affirm has a 52 week low of $22.25 and a 52 week high of $82.53. The business’s 50 day moving average is $47.85 and its two-hundred day moving average is $57.01. 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) last released its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.43) earnings per share. On average, research analysts predict that Affirm will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the transaction, the director now directly owns 45,432 shares of the company’s stock, valued at $2,063,067.12. This represents a 26.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now directly owns 38,997 shares in the company, valued at approximately $1,785,282.66. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,677 shares of company stock valued at $1,665,545 in the last three months. Insiders own 11.82% of the company’s stock.

Institutional Trading of Affirm

Several hedge funds have recently added to or reduced their stakes in AFRM. Janney Montgomery Scott LLC boosted its stake in Affirm by 9.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,713 shares of the company’s stock valued at $713,000 after purchasing an additional 1,015 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Affirm by 45.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,589 shares of the company’s stock worth $99,000 after acquiring an additional 496 shares during the period. Choreo LLC acquired a new stake in shares of Affirm during the 4th quarter worth approximately $261,000. Bleakley Financial Group LLC acquired a new stake in shares of Affirm during the 4th quarter worth approximately $210,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Affirm during the 4th quarter worth approximately $318,000. 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.