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

Royal Bank of Canada reaffirmed their sector perform rating on shares of Affirm (NASDAQ:AFRM) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $43.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group upped their price objective on shares of Affirm from $18.00 to $20.00 and gave the company a neutral rating in a research note on Friday, February 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 research note on Friday, February 9th. Stephens upped their price objective on shares of Affirm from $6.00 to $16.00 and gave the company an underweight rating in a research note on Friday, February 9th. JPMorgan Chase & Co. raised shares of Affirm from a neutral rating to an overweight rating and upped their price objective for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. Finally, Wedbush reaffirmed an underperform rating and issued a $20.00 price objective on shares of Affirm in a research note on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $27.53.

Affirm Stock Up 1.2 %

AFRM opened at $30.03 on Friday. Affirm has a fifty-two week low of $12.81 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The company’s 50 day moving average price is $33.45 and its two-hundred day moving average price is $36.92.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. During the same period in the previous year, the firm posted ($0.69) EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affirm will post -1.98 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,276 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its position in shares of Affirm by 9.2% in the third quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock valued at $451,000 after acquiring an additional 1,781 shares during the period. Principal Financial Group Inc. boosted its position in shares of Affirm by 5.5% in the third quarter. Principal Financial Group Inc. now owns 17,091 shares of the company’s stock valued at $364,000 after acquiring an additional 888 shares during the period. California Public Employees Retirement System boosted its position in shares of Affirm by 6.3% in the third quarter. California Public Employees Retirement System now owns 325,313 shares of the company’s stock valued at $6,919,000 after acquiring an additional 19,159 shares during the period. Signaturefd LLC boosted its position in shares of Affirm by 9.0% in the third quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock valued at $136,000 after acquiring an additional 528 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Affirm by 7.5% in the third quarter. Victory Capital Management Inc. now owns 24,232 shares of the company’s stock valued at $515,000 after acquiring an additional 1,694 shares during the period. 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.