Affirm (NASDAQ:AFRM) Given Sector Perform Rating at Royal Bank of Canada

Affirm (NASDAQ:AFRM)‘s stock had its “sector perform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $46.00 target price on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 17.56% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Bank of America upped their target price on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Susquehanna assumed coverage on shares of Affirm in a research note on Friday, September 20th. They set a “positive” rating and a $52.00 price objective on the stock. BTIG Research assumed coverage on shares of Affirm in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Barclays upped their price objective on shares of Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.53.

Affirm Stock Up 1.6 %

Shares of AFRM opened at $39.13 on Friday. The company has a 50-day simple moving average of $34.81 and a 200-day simple moving average of $33.01. The firm has a market capitalization of $12.10 billion, a P/E ratio of -17.71 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07. Affirm has a 52 week low of $15.97 and a 52 week high of $52.48.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The business had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, equities research analysts expect that Affirm will post -0.82 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Affirm news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,075 shares of company stock valued at $4,803,786. 13.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the fourth quarter worth $33,000. Ridgewood Investments LLC bought a new stake in Affirm in the 2nd quarter valued at $27,000. Global Wealth Strategies & Associates lifted its position in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares in the last quarter. Finally, ORG Partners LLC lifted its position in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

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.