Royal Bank of Canada Trims Affirm (NASDAQ:AFRM) Target Price to $43.00

Affirm (NASDAQ:AFRM) had its target price decreased by equities researchers at Royal Bank of Canada from $50.00 to $43.00 in a report released on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 28.40% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Barclays reduced their price objective on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group boosted their target price on shares of Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Wedbush reiterated an “underperform” rating and issued a $20.00 price target on shares of Affirm in a report on Friday, February 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Thursday. Finally, Stephens increased their price target on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affirm currently has a consensus rating of “Hold” and a consensus target price of $27.58.

Affirm Stock Up 6.0 %

Shares of AFRM traded up $1.91 during midday trading on Thursday, hitting $33.49. The company had a trading volume of 6,741,737 shares, compared to its average volume of 9,149,640. Affirm has a 52 week low of $11.57 and a 52 week high of $52.48. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of -13.40 and a beta of 3.56. The company’s 50 day moving average price is $34.60 and its 200 day moving average price is $35.93.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.27. The business had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.69) earnings per share. On average, equities research analysts predict that Affirm will post -2.45 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AFRM. Norges Bank purchased a new stake in Affirm during the fourth quarter valued at about $67,310,000. Leo Wealth LLC bought a new position in Affirm during the 4th quarter worth approximately $57,647,000. Vanguard Group Inc. increased its stake in Affirm by 4.1% in the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock worth $958,569,000 after purchasing an additional 769,843 shares during the period. Baillie Gifford & Co. lifted its position in Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the last quarter. Finally, RJA Asset Management LLC purchased a new stake in shares of Affirm during the first quarter valued at approximately $14,808,000. Institutional investors own 69.29% of the company’s stock.

Affirm Company Profile

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.