Royal Bank of Canada Increases Affirm (NASDAQ:AFRM) Price Target to $50.00

Affirm (NASDAQ:AFRMGet Free Report) had its price target increased by Royal Bank of Canada from $26.00 to $50.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 14.00% from the stock’s previous close.

AFRM has been the topic of several other research reports. UBS Group upped their price objective on shares of Affirm from $19.50 to $21.50 and gave the company a “neutral” rating in a report on Wednesday, November 22nd. Morgan Stanley lowered shares of Affirm from an “equal weight” rating to an “underweight” rating and upped their price objective for the company from $15.00 to $20.00 in a report on Monday, December 18th. Piper Sandler upped their price objective on shares of Affirm from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Thursday, November 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a report on Friday. Finally, Truist Financial upped their price objective on shares of Affirm from $33.00 to $55.00 and gave the company a “buy” rating in a report on Friday, December 15th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.81.

View Our Latest Report on Affirm

Affirm Stock Performance

Shares of AFRM opened at $43.86 on Friday. The company has a current ratio of 13.25, a quick ratio of 13.25 and a debt-to-equity ratio of 2.19. The stock has a market capitalization of $13.23 billion, a P/E ratio of -17.61 and a beta of 3.72. The firm’s fifty day simple moving average is $43.69 and its two-hundred day simple moving average is $28.64. Affirm has a 12 month low of $8.80 and a 12 month high of $52.48.

Affirm (NASDAQ:AFRMGet Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.65). The firm had revenue of $496.55 million for the quarter, compared to the consensus estimate of $444.48 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.34%. The business’s revenue was up 37.3% compared to the same quarter last year. During the same period last year, the company posted ($0.86) EPS. As a group, analysts predict that Affirm will post -0.69 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, major shareholder Private Ltd Gic sold 2,906,591 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.02, for a total transaction of $116,321,771.82. Following the completion of the transaction, the insider now directly owns 1,592,923 shares of the company’s stock, valued at approximately $63,748,778.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder Private Ltd Gic sold 2,906,591 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.02, for a total value of $116,321,771.82. Following the completion of the transaction, the insider now directly owns 1,592,923 shares of the company’s stock, valued at approximately $63,748,778.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Linford sold 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $50.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 99,063 shares of the company’s stock, valued at $4,953,150. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,036,591 shares of company stock worth $122,951,772. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AFRM. Norges Bank bought a new position in Affirm in the 4th quarter valued at $20,544,000. Vanguard Group Inc. raised its position in shares of Affirm by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock valued at $763,545,000 after buying an additional 1,883,050 shares in the last quarter. State Street Corp raised its position in shares of Affirm by 96.6% during the 2nd quarter. State Street Corp now owns 3,571,814 shares of the company’s stock valued at $64,507,000 after buying an additional 1,755,252 shares in the last quarter. Capital World Investors raised its position in shares of Affirm by 9.5% during the 2nd quarter. Capital World Investors now owns 16,783,050 shares of the company’s stock valued at $257,284,000 after buying an additional 1,453,822 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Affirm by 38.2% during the 1st quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock valued at $239,773,000 after buying an additional 1,432,202 shares in the last quarter. 59.69% 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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